Global payment tech company Mastercard and digital asset firm Bakkt have entered into a pact to incorporate crypto payments. Both organizations confirmed yesterday.
The “multifaceted partnership” will enable merchants, banks, and fintech startups to offer a wide range of crypto services and also expose Mastercard customers to a number of crypto solutions.
“Through the power of the Mastercard network and Bakkt’s trusted digital asset platform, Mastercard partners will be able to offer cryptocurrency solutions and loyalty promotions. Mastercard said in a statement.
“These include the ability for consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards.”
Bakkt’s Executive VP, Loyalty Rewards & Payment, Nancy Gordon, believes the partnership is a chance to satisfy surging crypto demands from customers.
“As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy increasing demand for crypto, payment and rewards flexibility.” Gordon said.
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