fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Crypto & Fintech

Crypto to be accepted in Mastercard payment platforms from 2021

Mastercard will now allow consumers to buy, sell, and possess cryptocurrency through a collaboration with the BAKKT portal

Sakshi K S by Sakshi K S
October 26, 2021
in Crypto & Fintech, Commercial, The Global Economics, Top Stories
Reading Time: 2 mins read
0
Crypto to be accepted in Mastercard payment platforms from 2021

Crypto to be accepted in Mastercard payment platforms from 2021

219
SHARES
1.2k
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Mastercard is setting itself to declare that any of the banks and merchants on its payment platform can soon include cryptocurrency into their products, CNBC reported.

Mastercard to include crypto in its payment platform

The firm will now allow debit & credit cards, and bitcoin wallets that earn rewards in the digital currency to allow digital assets to be expended. It will also allow airline and hotel points in loyalty programs to be transformed into bitcoin.

To enable this endeavor, Mastercard is collaborating with BAKKT LLC, the crypto firm that was recently created by the Intercontinental Exchange, executives of both the firms told CNBC.

Mastercard’s Executive Vice President of Digital Partnerships, Sherri Haymond, stated that the firm strived to deliver accessibility to crypto services to all its partners. Haymond stated that every client of Mastercard will now be allowed to buy, sell, and possess crypto through a collaboration with the BAKKT portal.

The declaration could facilitate an important extension in the manner in which Americans spend and earn crypto. Mastercard holds one of the most eminent global payment networks alongside Visa and fosters relationships with over 20,000 financial entities across the globe. According to the firm, around 2.8 billion Mastercards are in use at present.

Attention towards bitcoin has reached an all-time high as the digital currency’s value increased in 2021, hitting a whopping price of over USD 60,000 in October. US regulators have enabled the fund industry to deliver a bitcoin-linked ETF for the foremost time in October, whilst big institutional investors like Pimco have stated that they were bearing in mind to trade digital currencies.

This attention has made Mastercard consumers ask the firm for support in facilitating cryptocurrency services, according to Haymond. Hence, in this manner, banks can maintain consumers on their platforms rather than witnessing money migrate to cryptocurrency exchanges, she said.

Apart from providing cryptocurrency wallets and credit cards for banking entities, the Mastercard-BAKKT partnership enables restaurants and merchants to offer rewards in digital currencies in place of traditional reward points, according to Gavin Michael, CEO of BAKKT. Points that already exist can be renewed into digital currency at the rates that are established by the participating firms, allowing consumers to earn a yield, Michael stated.

Via: Short URL
Tags: BAKKT LLCcryptocurrencyMastercardtrading
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

Related Posts

Europ Assistance’s new acquisition includes Gulf Assist from MAPFRE Asistencia in 2022
Mergers & Acquisitions

Europ Assistance’s new acquisition includes Gulf Assist from MAPFRE Asistencia in 2022

by Ritu M R
July 1, 2022
Illinois to witness tax relief measures from July 1st, 2022
Taxation

Illinois to witness tax relief measures from July 1st, 2022

by Sakshi K S
July 1, 2022
Oman: Jumeirah Group to open its first luxury resort in 2022
Hospitality

Oman: Jumeirah Group to open its first luxury resort in 2022

by Ritu M R
June 30, 2022
Coinbase to expand its footprint into the European Union in 2022
Crypto & Fintech

Coinbase to expand its footprint into the European Union in 2022

by Sakshi K S
June 30, 2022
Central Bank of Europe ready to ‘stamp out’ surging inflation in 2022
Central

Central Bank of Europe ready to ‘stamp out’ surging inflation in 2022

by Ritu M R
June 30, 2022
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Previous
Next
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Europ Assistance’s new acquisition includes Gulf Assist from MAPFRE Asistencia in 2022

Europ Assistance’s new acquisition includes Gulf Assist from MAPFRE Asistencia in 2022

July 1, 2022
Illinois to witness tax relief measures from July 1st, 2022

Illinois to witness tax relief measures from July 1st, 2022

July 1, 2022
Oman: Jumeirah Group to open its first luxury resort in 2022

Oman: Jumeirah Group to open its first luxury resort in 2022

June 30, 2022
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version