Mastercard launches crypto-linked debit, credit, and prepaid payment cards in the Asia Pacific. They will allow businesses and consumers to pay for purchases with cryptocurrency.
The partners of the Mastercard Crypto Card initiative are Hong Kong startup Aber Group, cryptocurrency exchanges CoinJar, and Bitkub group.
Mastercard crypto-linked payments cards will enable crypto holders to spontaneously convert their digital assets into fiat.
The cards also attempt to eliminate obstacles between merchants who do not receive digital assets and consumers who desire to pay in crypto.
Rama Sridhar, Executive Vice President of Digital Partnerships Asia Pacific, Mastercard said:
“As interest and attention in cryptocurrencies grow, use cases are moving beyond speculation. We will provide more choice and payment options.”
As a reminder, in July, Mastercard expanded its card program for cryptocurrency companies to make it easier to convert digital assets to fiat.
A survey conducted by Master card in the spring showed that four out of ten of its customers plan to use digital currencies in 2022.