Mastercard will allow you to buy and store cryptocurrency

The international payment system Mastercard is working on introducing cryptocurrency payments into its network, suchThus, any of the thousands of banks and millions of merchants in the Mastercard payment network will be able to integrate cryptocurrency into their products. It is reported by CNBC with reference to the top management of the company.

As the executive vice president saidMastercard Sherri Haymond, with the help of the new service, banks and fintech companies will be able to offer their customers the opportunity to “buy, sell and store cryptocurrency”. However, the approximate timing of the launch of the new service remains unknown.

Mastercard products will includeBitcoin wallets, credit and debit cards that bring cryptocurrency rewards and spend digital assets, as well as loyalty programs in which airline or hotel points can be converted into bitcoins.

For this, the payment network develops cooperation.with cryptocurrency firm Bakkt, created by Intercontinental Exchange, which will act as a custodian service provider for registered users.

«We want to offer all our partners the ability to conveniently add crypto services to what they do»Sherri Haymond, Executive Vice President of Digital Partnerships at Mastercard, said in an interview.

«Our partners, be they banks,Fintech companies or merchants can offer their clients the opportunity to buy, sell and store cryptocurrency through integration with the Baktt platform.

This statement can greatly expandopportunities for ordinary Americans to earn and spend bitcoins and other cryptocurrencies. Mastercard operates one of the dominant global payment networks alongside Visa and has relationships with over 20,000 financial institutions around the world. According to the company, 2.8 billion Mastercard cards are currently in use.

Interest in Bitcoin remained high asthe first cryptocurrency has surged this year, hitting a record price of over $ 67,000 this month. For the first time this month, US regulators have allowed the stock industry to offer bitcoin futures ETFs, while large institutional investors such as bond giant Pimco said that are considering trading cryptocurrency.

According to Haymond, this interest prompted customers toMastercard turn to the network for help in providing crypto services. In this way, banks will be able to keep customers on their own platforms, rather than watch how dollars are transferred to cryptocurrency exchanges.

Mastercard and Bakkt were set to announce their partnership at the annual Money20 / 20 conference in Las Vegas.

According to Bakkt CEO GavinMichael, in addition to providing banks with crypto wallets and credit cards, the partnership will allow merchants and restaurants to offer bitcoin rewards instead of traditional points. According to him, existing points can be converted into cryptocurrency at rates set by participating companies, which simultaneously gives customers the opportunity to generate income.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

</p>

Rate this publication