Partners of the largest payment network, Mastercard, will soon be able to integrate support for digital assets into their own products.
Payment system Mastercard announced the integration of cryptocurrency payments. As a result, Mastercard partners, including merchants and banks, will soon add support for digital assets to their products. To do this, the payment network has partnered with the Bakkt cryptocurrency platform. As a result, Mastercard customers will be able to buy, sell and store digital assets.
Mastercard also plans to add support for cryptocurrencies to the loyalty program. This will help payment network partners reward their customers with digital assets for various achievements.
In September 2021, Mastercard announced the purchase of the analytical cryptocurrency service CipherTrace. It monitors suspicious activity on the blockchain of about 900 digital assets. With this purchase, Mastercard plans to expand opportunities in the crypto industry on the whole. The payment system will provide access to CipherTrace products to its partners. They will also develop a new service that will enable companies to ensure transparency and security in their digital asset management.
In October 2021, Bakkt announced a partnership with Google. Bakkt users will be able to add their virtual cards to the Google Pay payment system to make payments using crypto. When paying, the cryptocurrency will be automatically converted to fiat.
Bakkt was launched by New York Stock Exchange operator Intercontinental Exchange in 2018. In 2019, it introduced its main product — deliverable bitcoin futures.
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