Mastercard is partnering with Bakkt to make cryptocurrency payments accessible to its customers.
The global payments network will allow all of its 20,000 financial institutions to integrate Bitcoin payments for the 2.8 billion Mastercard holders.
Banks will be able to issue debit or credit cards that will allow payments with cryptocurrency.
The partnership with Bakkt will enable financial institutions that issue cards through Mastercard to compete with crypto exchanges, a company representative said.
News about the future provision of Mastercard custody services ensured a 70% increase in Bakkt shares.
For the first time, Mastercard plans to add support for digital currencies announcedin February of this year. A survey conducted by the company in May poll showed that four out of ten people plan to use cryptocurrency to make payments in the next year. In September, the company acquired cybersecurity firm CipherTrace.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Visa will issue a card linked to the stablecoin USD Coin
Visa announced that it is linking its payments network of 60 million merchants with the USD Coin (USDC) stablecoin.
Western Union is considering introducing cryptocurrency services
Today there are many startups on the market offering payment transfers using cryptocurrencies. However, Western Union Global Money claims that many years of experience, deep knowledge and an impeccable reputation will give WU the opportunity to become a leader in the cryptocurrency payment systems market faster than any of the existing projects.
