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Mastercard set to launch crypto-linked payments card
November 10, 2021
Payment card networks Mastercard has collaborated with cryptocurrency service providers Amber, Bitkub and CoinJar to launch its first crypto-funded Mastercard payment cards in the Asia-Pacific area.
“Cryptocurrencies are many things to public an investment, a technology, or a unique financial tool. As interest and attention surges from all quarters, their real-world applications are now emerging beyond the speculative,” said Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard.
The announcement comes at a time when some traders are already accepting payments in digital currencies such as Bitcoin or Ethereum. According to a Mastercard survey, 45 percent of those surveyed in APAC say they are likely to consider using cryptocurrency in the next year.
Thailand-based Amber Group and Bitkub, along with Australia-based CoinJar offer cryptocurrency purchase and exchange services in their respective local markets. These organizations are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program that lets cardholders convert their crypto holdings into a fiat currency.
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