Mastercard signs crypto card with London-based Wirex

Mastercard signs crypto card with London-based Wirex

Mastercard has partnered with London-based startup Wirex to issue payment cards directly in the same way as conventional merchants. The move will make Wirex the first native cryptocurrency platform to obtain a master membership license from Mastercard, allowing consumers to buy, hold and trade cryptocurrencies alongside various traditional currencies. . The public can instantly convert their cryptocurrency into traditional fiat currency, which can be spent anywhere Mastercard is accepted around the world. Users will also benefit from Wirex's Cryptoback rewards program, which automatically offers customers up to 1,5% back in Bitcoin for every purchase made in the store. "We are delighted that Wirex is the first crypto-native company to benefit from Mastercard's core membership," said Pavel Matveev, CEO and co-founder of Wirex. "This represents growing interest and recognition for the acceptance of cryptocurrency by major bodies and regulators and will help us realize our vision of enabling everyone to discover a world where all currencies, traditional and crypto, are equal." .

Cryptocurrency program

Consumer interest and investment in digital currencies is on the rise, with a recent Statista survey revealing that up to 20% of the population in some countries now own cryptocurrency. Mastercard's decision to expand its cryptocurrency program will make it easier for partners to bring secure payment cards to market. The company is also inviting other cryptocurrency and crypto card partners to join the Mastercard Accelerate program, which is designed to help emerging brands and fintechs. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating secure experiences for consumers and businesses in today's digital economy," said Raj Dhamodharan, Executive Vice President, Blockchain and Digital Asset Products and Partnerships, Mastercard. "Our work with Wirex and the largest crypto ecosystem is accelerating innovation and giving consumers more choice in how they pay."