The payments giant Mastercard is set to announce cryptocurrency support across its network in the near term. About this сообщает CNBC.
Banks and merchants will gain the ability to integrate cryptocurrencies into their products. This includes Bitcoin wallets, credit and debit cards for crypto-based rewards, and loyalty programs whose points can be converted into digital assets.
Executive Vice President for Digital Partnerships at Mastercard, Sherri Hammond, said the initiative would allow banks to compete with cryptocurrency exchanges.
Bakkt will be the network’s partner. It will act as an intermediary for the sale and custody of cryptocurrencies.
According to Bakkt CEO Gavin Michael, the company will be able to set its own rate for converting traditional points into bitcoins, thereby allowing customers to earn income.
Bakkt’s shares closed the session up 234%.
In February 2021 Mastercard announced plans to open up merchants to cryptocurrency payments в феврале 2021 года.
A May survey showed that 40% of the payment network’s customers plan to use cryptocurrencies.
Earlier in September Mastercard announced the acquisition of CipherTrace, a firm that tracks suspicious activity on the blockchain across more than 900 cryptocurrencies.
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