Mastercard partners with Bakkt to expand its cryptocurrency services to its partner network

Access to cryptocurrencies for Mastercard partners

On its website, the Mastercard company unveiled its partnership with the Bakkt exchange to expand its range of cryptocurrency-related services.

Thus, the objective is to allow Mastercard partners to have access to investment products in digital assets.

“We want to make it easier for all of our partners to add cryptocurrency services to their businesses. Our partners, whether banks, fintechs or merchants, can offer their clients the ability to buy, sell and hold cryptocurrency through integration with the Bakkt platform, ”said Sherri Haymond , Executive Vice President of Digital Partnerships at Mastercard.

Thanks to its powerful network and this new partnership, Mastercard wishes to significantly democratize access to cryptocurrencies.

Moreover, in addition to this service, Mastercard wishes to use cryptocurrencies as a loyalty solution. The idea is to allow its partners to offer cryptocurrencies as rewards in order to create synergies between loyalty points and digital assets.

“We are incredibly excited to partner with Mastercard to bring cryptocurrency loyalty services to millions of consumers. These new offerings represent a unique opportunity to meet the growing demand for flexibility in cryptocurrency, payments and rewards, ”added Nancy Gordon, Loyalty Rewards and Payments at Bakkt.

Mastercard, a proactive company in cryptocurrencies

Last May, Mastercard had already highlighted the emergence of new digital payments including cryptocurrencies.

In addition to this survey, the company had taken the lead by proposing the addition of these digital assets to its network during the year 2021.

Recently, the Mastercard payment card issuer launched an experiment with Circle for a conversion system between cryptocurrencies and fiat currencies.

The idea for the American payment giant is to offer the USDC stablecoin as a bridge asset to allow its clients to carry out daily financial transactions using cryptocurrencies.

Therefore, the American company remains proactive towards cryptocurrencies and does not hesitate to move forward to adapt with the technology.

👉 To discover – Mastercard acquires the blockchain analysis firm CipherTrace to strengthen its presence in crypto-assets

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About the Author: Anthony Bassetto

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