Mastercard Announces Expansion in Cryptocurrency efforts, with card deal with Wirex

Mastercard announced a new deal with one of the world’s largest digital currency exchange Wirex on Monday to bring more cryptocurrency and fintech companies into its card-issuing network to expand their services alongside.

The payments giant said in a press release that “we are aggressively offering partners to deliver secure and compliant payment cards to market. To add to the partnership experience, we invite cryptocurrency and crypto card partners to join us in our efforts to provide emerging fintech brands with the support they need to multiply, the company said. Mastercard is looking to expand its Accelerate program, which is a partnership between the company and several Fintech and cryptocurrencies.

The Both sided Benefits to Partner Firm

MasterCard’s core membership enables with Wire enables the firm to issue payment cards to all consumers in the US, Europe, Australia, New Zealand and the Middle East, making it quick and easy for all of our users to purchase, hold, trade and trade multiple “traditional” cryptocurrencies, and to access, use and use them with a broader user base and services.

Its subsequently noted that only a small percentage of payment cards issued by crypto- and related companies have been on Visa’s network so far. Mastercard has also unveiled a new partnership with Wirex, which already offers Visa cards in Asia and Europe.

Mastercard Announces Expansion in Cryptocurrency efforts, with card deal with Wirex 1

As of now, the Mastercard Fintech Express offers a digital-first service tailored to the unique needs of fintech, enabling program launches and global expansion at speed. Mastercard “FinTech Express” offers a “Digital First” service, which is not only tailored to the specific needs of Fintech but also aims to launch programs at high speed or enable global expansion. 

As the cryptocurrency market continues to mature, Mastercard is driving it forward by creating a new platform for the digital currency market in the form of a Visa card. This collaboration with Wirex and the broader crypto ecosystem accelerates innovation and gives consumers more choice in how they pay.

Also Read: PayPal Partnered With Paxos To Launch Its Own Crypto Services