Mastercard is responding to the increase interest in cryptocurrencies and the growing number of merchants by expanding its cryptocurrency program.
According to Mastercard, it will now be easier and faster for each partner to launch secure and compatible crypto payment cards. All thanks to the Mastercard’s Accelerate program, in which new brands and fintech companies can join and use everything they need for their growth.
This option was created together with the crypto Wirex platform, which gained the principal membership in Mastercard, and this allows it to issue payment cards directly.
Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard said:
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,
Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.
Wirex has made rapid progress over the last 18 months, obtaining the necessary licenses from the UK’s Financial Conduct Authority to issue cards in Europe.
Pavel Matveev, CEO and co-founder of Wirex said:
We are very excited for Wirex to be the first crypto-native company granted principal membership from Mastercard,
It represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators and will help us to realize our vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal.
The company also plans to launch a new generation of Wirex cards for customers in Europe at the end of the year, with many improvements such as free withdrawals and expansion of the cryptocurrencies portfolio.
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