Mastercard partners with Bakkt to enable banks to offer crypto services

Mastercard partners with Bakkt to enable banks to offer crypto services
фото показано с : invezz.com

2021-10-27 15:10

MasterCard is making bold moves to promote cryptocurrency adoption amidst major growths across the crypto economy. Reports have now stated that the firm will soon allow banks and merchants on its network to add Bitcoin (BTC/USD) into their products.

According to a CNBC report, the launch of this service will comprise Bitcoin wallets, credit cards and debit cards. These products will allow users to earn rewards in the form of cryptocurrencies and allow millions of users on the platform to spend digital assets while converting their loyalty points into crypto.

Mastercard Partners with Bakkt

To make this move possible, MasterCard stated that it would collaborate with Bakkt. Bakkt is a cryptocurrency firm that will provide custodial services for Mastercard’s new product.

In a statement to CNBC, the executive vice president of digital partnerships at Mastercard, Sherri Haymond, stated that,

We want to offer all of our partners the ability to more easily add crypto services to whatever it is they’re doing. Our partners, be they banks, fintechs or merchants, can offer their customers the ability to buy, sell and hold cryptocurrency through an integration with the Bakkt platform.

Mastercard is one of the largest digital payments platforms, and through this new initiative, it could expand how people earn and spend their crypto assets. Mastercard has a network of over 20,000 financial institutions globally. Moreover, there are around 2.8 billion actively in use globally.

Launch of Crypto Service amidst Increased Demand

The launch of this service comes at a time when interest in cryptocurrencies is high. Bitcoin and the entire cryptocurrency market has enjoyed major growth this year, with the coin hitting an all-time high of $67K last week.

The US financial market regulators seem to be opening up to cryptocurrencies as they recently approved a Bitcoin futures exchange-traded fund. Major banking institutions on Wall Street have also shown openness towards investing in cryptocurrencies.

The growth of cryptocurrencies and high demand from users is among the reasons why Mastercard launched its crypto service. Haymond stated that with the rapid growth of this sector, Mastercard’s new service would allow banks to retail their customers instead of these customers moving their funds to crypto exchanges.

The post Mastercard partners with Bakkt to enable banks to offer crypto services appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0095806 (-100%)

banks mastercard crypto allow merchants soon stated

banks mastercard → Результатов: 34


MasterCard Reiterates Interest In Helping Government Build CBDCs

Leading global payment and technology firm Mastercard has announced plans to explore smart contract technology on Central Bank Digital Currencies (CBDCs). MasterCard Investing in Smart Contract Tech For CBDCs Mastercard’s efforts in examining how smart contracts can help central banks develop digital cash is a push towards the realization of state-backed currencies.

2021-5-1 20:29


Bitcoin Overtakes PayPal Market Cap, Sets Sights On VISA, Mastercard, And Big Banks Next

Ever since news broke that PayPal would be supporting Bitcoin and other cryptocurrencies in the future, the price per BTC and the asset’s overall market cap has ballooned. And while PayPal’s support of the emerging financial tech is what started off the recent bullish impulse, the momentum has carried the top cryptocurrency’s market cap beyond the payments giant’s valuation itself.

2020-11-7 18:00


Facebook Crypto Libra Crumbling as Visa, Mastercard Consider Quits: Report

Facebook’s cryptocurrency Libra has been in hot water ever since the social media giant released the whitepaper earlier this year. Central banks and governments across the globe have put together a concerted effort against Libra, putting Facebook executives in the dock time and again as they fear that the social media giant is out to […] The post Facebook Crypto Libra Crumbling as Visa, Mastercard Consider Quits: Report appeared first on CCN.com

2019-10-2 11:06


Фото:

Mastercard Partners with R3 for Blockchain Cross-Border Payments

Mastercard, a global payments service provider has joined forces with R3, the creator of enterprise-grade distributed ledger technology (DLT) solutions, to develop a blockchain-based cross-border payments platform to enable banks and other financial institutions facilitate frictionless and cost-efficient international payments, according to a press release on September 11, 2019.

2019-9-13 21:00


R3’s partnership with Mastercard to introduce its blockchain-enabled cross-border payments solution

R3 has entered Ripple’s playing field as it announced a strategic partnership with Mastercard, a leading global payments and technology company. This strategic partnership between the two is piloting a new blockchain-enabled cross-border payments solution, something that Ripple provides not only to banks but also to other Financial Institutions.

2019-9-11 15:35


Фото:

Mastercard Partners with Bahrain Financial Network for Blockchain-Based Payment Solution

According to a press release from Trade Arabia, July 30, 2019, Mastercard and the Bahrain Electronic Network for Financial Transactions (Benefit), the only financial network in the Kingdom of Bahrain handling ATM and POS transactions, have established a partnership to provide a blockchain solution for banks to enable cross-border commercial payments.

2019-7-31 09:00


GreatBritishPoundToken ICO

Shopping online is meant to be ease . . Online shopping 'unease' with foreign currencies? Anxious about the privacy of your Credit/Debit card information? 'GBPT' is an online store that will offer electronic products from the top 10 Electronics brands and some more with most used products, not only this but also will offer the Best Bitcoin Mining Hardware (Bitmain).

2018-11-27 16:02


Фото:

Cryptocurrencies Challenge The Visa And Mastercard Duopoly

It’s a rare thing indeed when two multinational heavyweights come out the worse in a court case. Even rarer when the settlement costs them collectively over $6bn. The business press reported earlier this week that Visa and Mastercard, along with a sprinkling of banks, would pay a class of more than 12 million merchants a […] The post Cryptocurrencies Challenge The Visa And Mastercard Duopoly appeared first on Crypto Briefing.

2018-9-21 20:50