On July 20, Mastercard announced that due to the further development of the Accelerate program, it intends to acquire new business partners who offer cryptocurrency cards to their customers.
As part of this cooperation, Mastercard will enable new partners to enter the international market, support in terms of cybersecurity and access its market research.
Companies wishing to cooperate must meet certain criteria, such as ensuring the privacy and security of their users, as well as complying with anti-money laundering law. It is also essential that financial institutions, traders and mobile network operators have a level playing field.
“The cryptocurrency market continues to mature and Mastercard is driving it by creating a secure and reliable experience for consumers and businesses in today’s digital economy.”
Said Raj Dhamodharan, executive vice president, digital assets and blockchain products and partnerships at Mastercard.
Wirex is the first European partner of Mastercard, providing cryptocurrency services
London-based cryptocurrency payment platform Wirex was the first to obtain a main membership. As a result, Wirex card users will be able to exchange cryptocurrencies for fiat money and spend them at points of sale that support Mastercard.
“These events show the growing interest in Cryptocurrencies by regulators and large corporations”
– said Pavel Matveev, president and co-founder of Wirex.
“Working with Mastercard will bring our company closer to realizing our vision of creating a world where traditional currencies and cryptocurrencies are equal.”
-added Pavel Matveev.
Wirex is regulated by the British Financial Conduct Authority and is licensed to issue cryptocurrency cards in Europe. Earlier this year, it had over 3 million active users on its platform.
Mastercard has also introduced its offer in the USA.
Earlier, in June this year, Mastercard entered into cooperation with the BitPay blockchain payment service provider, thus introducing cryptocurrency cards in the United States. Top-ups can be performed immediately and have a daily limit of $ 10,000. There are no additional fees for transferring funds.
BitPay supports cryptocurrencies such as BTC, BHC, ETH, XRP and the following stablecoins: GUSD, USD, PAX and BUSD.