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Global payment service provider Mastercard has struck a deal with three leading cryptocurrency service firms Amber Group, Bitkub, and CoinJar to support crypto-funded card payments in the Asia Pacific region. According to an official press release put out today, Mastercard said the partnership will enable customers to directly convert digital currencies into traditional fiat currency that can be used wherever Mastercard is accepted.
“In collaboration with these partners that adhere to the same core principles that Mastercard does – that any digital currency must offer stability, regulatory compliance and consumer protection – Mastercard is expanding what’s possible with cryptocurrencies to give people even greater choice and flexibility in how they pay.” Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard said.
In the official statement, the payment giant said its latest partners are the very first Asia Pacific-based cryptocurrency service provider to join its global Crypto Card Program.
Last Month, Newsbsc reported the pact between Mastercard and Bakkt which allows the former to offer crypto payments features to banks, fintech startups, and merchants.