Mastercard Embraces Crypto: Mastercard has launched a Crypto Partner Program that brings together more than 85 Companies from the Digital Asset and Payments Sectors to Connect Blockchain Technology with its Global Payments Infrastructure. Participants include Firms such as: Binance, Circle, Gemini, PayPal, Paxos, and Ripple.
The Initiative aims to bring together: Banks, Blockchain Developers, Exchanges, and Fintech Firms, to Explore how Blockchain Systems can work with Traditional Payment Networks used by Merchants, Banks, and Consumers.
The Program focuses on Practical Use Cases where Digital Assets are already Gaining Attention, including Cross-Border Transfers, Business to Business Payments, and Global Payouts. Mastercard’s Goal is to Combine Blockchain Tools such as Programmable Payments, and Tokenized Assets with the established Payment Rails that already Support Global Commerce.
The Effort Reflects a Broader Shift in the Financial Industry as Digital Assets move closer to Traditional Financial Infrastructure.
Mastercard’s Network connects Banks, Merchants, and Consumers in more than 200 Countries and Territories, and the Company believes Blockchain Payments will only Scale Widely, if they can Integrate with that type of Global System.
The Program builds on earlier Crypto Initiatives from Mastercard, including Crypto linked Payment Cards, Investments in Blockchain Startups through its Start Path Accelerator, and Services that Help Banks Manage Crypto Compliance and Risk. Similar efforts are underway across the Industry.
For example, Visa has Tested Stablecoin Settlement with Blockchain Partners as Payment Networks and Financial Institutions continue Exploring ways to Integrate Digital Assets into Everyday Commerce.
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