Mastercard Launches Crypto Payments

Mastercard ($MA@US) has launched a cryptocurrency-linked payment card in the Asia-Pacific region. This new card will allow users to convert their digital assets into fiat currency. Seen as a way to break down barriers in the financial industry, especially those around cryptocurrency. In a partnership with Hong Kong’s Amber Group, Bitkub out of Thailand, and CoinJar out of Australia, the card will come in three forms. Consumers can use a prepaid card, a debit card or a credit card. The Crypto Card Program is the first Asia-Pacific-based digital asset service. It hopes to make crypto transactions as easy as possible, especially as more people are paid in cryptocurrency or invest in crypto. Mastercard noted that its New Payments Index survey showed that 45% of those polled were likely to consider crypto as a payment option in 2022. That is a 12% increase from 2020. The global average, according to Mastercard, is 40%. Previously, Mastercard partnered with Bakkt to help consumers manage digital assets through a custodial wallet, and the firm has committed to helping central banks better regulate digital markets. Despite the news, Mastercard stock fell a fraction of a percent in early trading.