Mastercard enables retailers in his network to offer crypto products and services -Finance
Mastercard enables retailers in his network to offer crypto products and services -Finance
The payment giant Mastercard has teamed up with a cryptocurrency exchange to enable its partners and dealers in the United States to offer cryptol solutions, including buying, selling and holding cryptocurrencies. "We would like to offer all of our partners the opportunity to add crypto services to everything they do."
The Mastercard network integrates crypto
Mastercard (NYSE: MA) and the cryptocurrency exchange Bakt (NYSE: BKKT) announced on Monday at the Money20/20 event "A Masinetful Partnership".
The partnership aims to "facilitate dealers, banks and fintechs in the USA, to accept and offer a wide range of cryptocurrency solutions and services," says the announcement. "Bakt extends Mastercard's ecosystem of cryptocurrency partners and enables crypto-a-a-service that offers quick access to cryptocurrency functions."
The two companies explained:
Mastercard partner can offer cryptocurrency solutions. This includes buying, selling and holding, selling and holding digital assets via depot walls that are operated by the Bakkt platform, and the optimized output of brand crypto-debit and credit cards.
The payment giant maintains relationships with more than 20,000 financial institutions worldwide, and according to the company, 2.8 billion master cards are in use. In a Nilson report in October 2019 it says that both Visa and Mastercard had 52.9 million dealers-more than all other companies worldwide.
Mastercard also announced that crypto is also integrated into its loyalty solutions, which enables its partners to "offer cryptocurrency as a reward and to create fungability between loyalty points and other digital assets". The announcement adds:
This means that consumers earn and spend rewards in cryptocurrency instead of traditional loyalty points and can seamlessly convert their crypto stands into the payment of purchases.
Sherri Haymond, Executive Vice President of Digital Partnerships from MasterCard, was quoted with the words: "We would like to offer all of our partners the opportunity to add more easily to their activities. Our partners, be it banks, fintechs or dealers, can offer their customers the opportunity to buy crypto drives by integrating the Bakkt platform sell and keep. "
gavin Michael, CEO von Bakkt, said: "We reduce the entry barriers and enable people to take something like their premium points and to exchange them in Krypto. It is an easy way to get started because they do not use cash, they set something that is an unused asset and allow them to get it."
What do you think that Mastercard helps dealers in your network with the integration of crypto solutions? Let us know in the comment area below.
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