MasterCard is a global bank card payment transaction processor, whose portfolio of brands and products include Maestro, Cirrus and MasterCard PayPass. It partners with financial institutions that issue credit cards, and with merchants who accept those cards. Now, they eyeing if they can add cryptowallet to their platform.
Mastercard has made a statement that they want to offer additional crypto services to their partners so that they have the ability to do anything more easily. Their partners such as banks, fintech, or traders can make crypto purchases and sales.
To date, there are 2.8 billion Mastercard holders, who also have relationships with over 20,000 financial institutions worldwide. There is also a statement stated by Mastercard that anyone who earns virtual currency rewards or points from loyalty programs from debit and credit cards, they can redeem points into cryptos.
This announcement was made at a time when most cryptocurrencies are doing a strong leap in the crypto market. Also, Bitcoin hit a new all-time high of over $ 66,000 last week. Furthermore, it is not yet known if Mastercard plans to introduce other cryptocurrencies such as Ethereum (ETH). If they decide to include Ethereum in their wallet, there is a possibility Mastercard share will increase.
Source: Finance Magnates