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The international processing company Mastercard announced the launch of the Crypto Card program for partner banks of this payment system. Crypto cards will be processed on the basis of our own Mastercard Crypto Credential software package.
The company intends to launch a new payment instrument on the market that allows you to spend and pay for purchases tied to digital assets. The launch of the payment solution will connect the user's cryptocurrency wallet with the Mastercard payment system. Thanks to this, the owner of cryptocurrency assets will be able to use their funds to make purchases in all parts of the world where bank cards of this system are accepted as payment.
"The Mastercard solution will allow customers to spend their cryptocurrencies as easily as fiat currency with regular bank cards. In fact, it is a digital wallet connected to an international payment system. We are here to enable customers, merchants, and businesses to move digital value the way they want. It's your choice and your money," explained Raj Dhamodharan, head of the company's cryptocurrency and blockchain department.
The representative of Mastercard added that the functionality will allow customers to independently replenish the card balance and manage their own cryptocurrency wallets. The Crypto Card program is reportedly being implemented with the support of cryptocurrency service provider Tap Global, crypto lender Nexo, and digital asset exchange Gemini.
At the initial stage, cryptocurrency cardholders will be able to make purchases in bitcoins and ether. Then the developers promise to expand the list of crypto assets available for payment transactions. MasterCard did not specify the cost of annual maintenance of cryptocurrency cards and the size of the commission when making transactions.
In May, Mastercard announced the launch of a pilot program for authenticating peer-to-peer cryptocurrency p2p transactions for the Caribbean, Latin America, and the United States.
The company intends to launch a new payment instrument on the market that allows you to spend and pay for purchases tied to digital assets. The launch of the payment solution will connect the user's cryptocurrency wallet with the Mastercard payment system. Thanks to this, the owner of cryptocurrency assets will be able to use their funds to make purchases in all parts of the world where bank cards of this system are accepted as payment.
"The Mastercard solution will allow customers to spend their cryptocurrencies as easily as fiat currency with regular bank cards. In fact, it is a digital wallet connected to an international payment system. We are here to enable customers, merchants, and businesses to move digital value the way they want. It's your choice and your money," explained Raj Dhamodharan, head of the company's cryptocurrency and blockchain department.
The representative of Mastercard added that the functionality will allow customers to independently replenish the card balance and manage their own cryptocurrency wallets. The Crypto Card program is reportedly being implemented with the support of cryptocurrency service provider Tap Global, crypto lender Nexo, and digital asset exchange Gemini.
At the initial stage, cryptocurrency cardholders will be able to make purchases in bitcoins and ether. Then the developers promise to expand the list of crypto assets available for payment transactions. MasterCard did not specify the cost of annual maintenance of cryptocurrency cards and the size of the commission when making transactions.
In May, Mastercard announced the launch of a pilot program for authenticating peer-to-peer cryptocurrency p2p transactions for the Caribbean, Latin America, and the United States.
