Mastercard and VISA continue to one-up one another in the race to facilitate cryptocurrency payments. A new partnership between Bakkt and Mastercard will bring cryptocurrency solutions to merchants and banks. A strategic step forward for both service providers and a big boon for the overall industry.
Mastercard Acknowledges Cryptocurrency Potential
- Both VISA And Mastercard actively explore ways to make cryptocurrencies more appealing as payment methods.
- For VISA, the main focus is consumer-oriented, whereas Mastercard’s new initiative is aimed at merchants and banks.
- Through a partnership with Bakkt, consumers will gain access to new loyalty reward schemes.
- Customers can buy, sell, and hold digital assets in Bakkt-provided custodial wallets.
- Additionally, they can collect and spend loyalty rewards through cryptocurrency.
- Appealing to younger consumers has been challenging for brands and merchants.
- Additionally, global demand for crypto exposure is rising, and a different loyalty reward exposure makes sense.
- It is another sign of how companies like Mastercard can create co-existence between traditional finance and cryptocurrencies.
- Both industries can complement one another instead of being seen as rivals.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.