The company believes that the presence of a payment card helps providers of such crypto wallets increase the number of active users. But wallet companies face significant demands when introducing cards into a new region. This is where Mastercard can come to the rescue.
“Mastercard is bringing its trusted and transparent approach to the digital asset space through a range of innovative products and solutions, including the Mastercard Multi-Token Network, Crypto Credential, CBDC Partner Program and new programs that connect Web2 and Web3,” the company said.
According to Mastercard’s presentation, once the proposed standards are approved, the next step will be to issue an EU or UK-focused card.
Earlier, the Bulgarian decentralized credit platform Nexo introduced a new cryptocurrency card of the Mastercard payment system, combining debit and credit functionality.
Earlier this year, the payment protocol for Web3 projects Immersve and Mastercard entered into a partnership to allow users to make crypto payments in metaverses and digital marketplaces, as well as in the real world.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
