It’s a big yes to crypto. Mastercard has just announced that the thousands of banks and millions of merchants in its global network will soon be able to integrate virtual currencies into their products.
Clearly, bitcoin wallets, credit and debit cards that earn rewards in crypto, or the conversion of airline and hotel points into bitcoins, are becoming concrete possibilities, explains. CNBC. To achieve this development, Mastercard has decided to turn to the company Bakkt, which will be its service provider for its customers.
An additional asset to attract customers
Quoted by our colleagues Sherri Haymond, executive vice-president of digital partnerships of the company, explains: “ We want to make it easier for all of our partners to add crypto services to their business. Our partners, whether banks, fintechs or traders, can offer their clients the ability to buy, sell and hold cryptocurrency through integration with the Baktt platform. ».
With this announcement, we could see a real change in the world of cryptocurrencies. We know that Mastercard is a giant of payment networks just like Visa. With its 2.8 billion bank cards in circulation, its gesture towards the sector is therefore not trivial.
According to the directors of the company, there was also a request from certain banks and traders in this direction. They hope to be able to convince their customers to stay up to the competition from platforms dedicated to cryptocurrency.
As a reminder, this decision by Mastercard is not necessarily surprising since its competitors Visa and PayPal already accept payments in cryptocurrency. Moreover, last February, Raj Dhamodharan, vice-president of the group had made a gesture in this direction. He then explained: “ We are noticing that users are increasingly taking advantage of crypto cards to access these assets and convert them into traditional currencies to spend them. »
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