Mastercard Launches Cryptocurrency Payment Cards in Asian Markets

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Payment company Mastercard has entered into a four-way agreement, under which it will launch cryptocurrency payment cards in the Asia-Pacific region.

Mastercard has signed agreements with Hong Kong-based cryptocurrency startup Aber Group, Australian cryptocurrency exchange CoinJar and Thai platform Bitkub to join the Mastercard Crypto Card program. Rama Sridhar, Executive Vice President of Digital and New Partnerships for Asia Pacific, Mastercard said:

“By working with partners who adhere to the same core principles as Mastercard, we are expanding our offerings to give people more choice and payment options. Our core principles are that supported cryptocurrencies must provide stability and consumer protection, and comply with regulatory requirements. ”

Mastercard plans to issue not only debit cards with support for cryptocurrencies, but also prepaid and credit cards. A recent survey by the company found that 45% of respondents in the region would like to use cryptocurrencies for payments in 2022. At the end of October, Mastercard announced plans to launch a cryptocurrency loyalty program in conjunction with the Bakkt platform.

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