May 24, 2022

The Queens County Citizen

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MasterCard launches payment cards linked to cryptocurrencies!

MasterCard launches payment cards linked to cryptocurrencies!

MasterCard has partnered with three leading cryptocurrency companies in Asia-Pacific to launch cryptocurrency-linked payment cards in the region.

According to a statement made by MasterCard today, A partnership of three partners with the Hong Kong-based startup Amber Group, the Australian cryptocurrency exchange formed by Coinzar and Siam Commercial Bank-owned Bitcoin Exchange.

These three companies were the first virtual currency companies to join the MasterCard crypto card program in the APAC region.

Working with these partners who adhere to the same fundamentals as MasterCard – that is, any digital currency must provide stability, regulatory compliance and consumer protection – is expanding the opportunities offered by MasterCard cryptocurrencies.Rama Sridhar, Executive Vice President, MasterCard, which is responsible for digital and emerging partnerships and new payment streams for the APAC region, said in a statement.

MasterCard accelerates cryptocurrency adoption

As a result of this partnership, customers and merchants in the APAC area will soon receive MasterCard debit, debit, Credit And prepaid cryptocurrency-backed. This facilitates the use of cryptocurrencies for users in the access area.

In a recent survey conducted by MasterCard, 45% of respondents in the APAC region said they would consider accepting crypto for payments in 2022.

MasterCard announced its intention to launch support for specific cryptocurrencies directly on its network last February. Since then, the company has shown growing interest in digital assets.

In September, MasterCard acquired CypherTrace, a specialist in blockchain analytics, a acquisition CEO Michael Meebach “Huge service opportunity As part of the company’s broader plans to adopt central bank digital currencies (CBDC) And fixed currencies.

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In October, the company entered into an agreement with the Cryptocurrency Exchange to expand the scope of providing cryptocurrency services to banks and fintech clients.