In an attempt to stay ahead of the curve, payment provider Mastercard has been foraying into the crypto industry throughout the past several months.
Their excitement surrounding the future of currency appears to be growing as well, as they recently announced plans to accelerate their digital assets program.
This will allow issuers to rapidly bring safe and compliant cards to the market that will enable users to transact with digital currency.
According to the announcement, Wirex will be the first platform to join Mastercard’s principal membership program, allowing them to issue crypto-native cards for consumer use.
Mastercard Accelerates Crypto Programs as Space Continues Growing
According to a press release from earlier today, Mastercard is now taking steps to accelerate the progression of its crypto card partner program.
This program is one facet of their blockchain growth strategy, and it entails onboarding a host of strategic partners. They can all help to advance the adoption of digital assets by increasing the ease at which users can transact with them.
In the release, the company explained that they are now “supercharging” this program by providing current and prospective partners with access to everything they need to go to market quickly.
“Supercharging the partnership experience, cryptocurrency and crypto card partners are invited to join Mastercard’s Accelerate program for emerging brands and fintechs, giving them access to everything they need to grow quickly,” they said.
They also announced that Wirex is the first company to be granted a principal membership, which will allow them to issue cards using Mastercard’s payment infrastructure directly.
By using the cards, users can pay for items or services at any of the millions of Mastercard merchants worldwide. It will also offer a rewards program that gives customers up to 1.5% cashback.
Mastercard VP: Cryptocurrency Market is Maturing at a Rapid Pace
While speaking about the Wirex partnership and the company’s plans to accelerate its cryptocurrency-based payment programs, Raj Dhamodharan – the Executive Vice President of Digital Asset and Blockchain Products at Mastercard – explained that the crypto markets are maturing at a rapid pace.
“The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy,” he said.
Because many view digital assets as a great alternative to fiat currencies as a means of payment, the growth and expansion of these cards could help spur further mainstream adoption.
Featured image from Shutterstock.
