in

Payments Giant Mastercard To Allow All Merchants and Banks To Integrate Crypto Into Their Services

Payments Giant Mastercard To Allow All Merchants and Banks To Integrate Crypto Into Their Services


Mastercard is massively expanding crypto access for businesses as well as consumers.

In a new partnership with digital asset firm Bakkt, the payments giant is launching a range of options that will allow merchants and shoppers to utilize crypto in a number of different ways.

 

According to today’s announcement,

“Mastercard customers can now enable consumers to buy, sell and hold cryptocurrency, deliver unique, crypto-centric loyalty opportunities, and streamline issuance of branded crypto debit and credit cards.

[This is] a multifaceted partnership to make it easier for merchants, banks and fintechs [financial technology] in the US to embrace and offer a broad set of cryptocurrency solutions and services.”

Bakkt Holdings was founded in 2018 and specializes in loyalty programs, gift cards and digital assets.

Bakkt CEO Gavin Michael says of the new partnership,

“We’re lowering the barriers to entry, allowing people to take something like your rewards points and trade them into crypto.

It’s an easy way to get going because you’re not using cash, you’re putting something that’s an idle asset sitting on your balance sheet, and we’re allowing you to put in to work.”

Bakkt Holdings, Inc. (BAKKT) stock price is soaring after the announcement, up 110% on the day at $19.09, according to Yahoo Finance.

Mastercard says that integrating existing loyalty programs with crypto functionality will benefit merchants and shoppers.

“[We are] enabling… partners to offer cryptocurrency as rewards and create fungibility between loyalty points and other digital assets.

This means that consumers can earn and spend rewards in cryptocurrency instead of traditional loyalty points and seamlessly convert their crypto holdings to pay for purchases.”

The Bakkt partnership is the latest move by Mastercard to embrace crypto going mainstream. Last month the payments firm acquired crypto intelligence company CipherTrace in order to “extend its capabilities deep into the field of digital assets.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix
 

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/oneinchpunch





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

PayPal logs its largest Bitcoin volume since May BTC price crash

Bitcoin Unlikely To Drop Below $8,200 In 2020 And Will Hit $100,000 By 2021, Analyst Affirms

Bitcoin Will Hit $120,000 Faster Than It Moved From $30,000 To $60,000, Analyst Posits ⋆ ZyCrypto