The payment network Mastercard, which is not indifferent to the speed of adoption of Bitcoin and cryptocurrencies, is preparing to offer new conveniences to its users.
According to CNBC’s report, Mastercard stated that institutions and banks in its customer network will soon begin to provide crypto money services.
In this new system, Mastercard has partnered with crypto company Bakkt.
Sherri Haymond, Mastercard’s vice president of digital partnerships, said:
We want to offer the possibility to add crypto services to everything our partners do. All our partners, whether banks, fintechs or merchants, can offer their customers the ability to buy, sell and hold cryptocurrency through the Baktt platform.
Mastercard, which has relationships with more than 20,000 financial institutions around the world, is thought to provide a significant expansion in the way Americans earn and spend Bitcoin and other cryptocurrencies.
This system of payment giant Mastercard includes credit and debit cards that provide rewards in crypto and enable the spending of digital currencies, and loyalty programs where points earned from airline or hotel spending can be converted into Bitcoin.
According to Bakkt CEO Gavin Michael, the partnership with Mastercard not only provides crypto wallets and credit cards to banks, but also means that even merchants and restaurants can start offering rewards in Bitcoin instead of traditional points.
The CEO said that with this system, they make it easier for people to enter crypto because they allow even earned reward points to be converted into crypto.