Mastercard is reportedly expanding its Engage program, which connects potential card issuers with partners who can provide the right technical expertise, to help bring cryptocurrency card programs to market, and to support a growing number of cryptocurrencies. A release that enables businesses to leverage the global network of major credit card companies.
mastercard engagement According to Mastercard, this will reduce the time it takes to bring crypto cards to market and help create a crypto-to-fiat conversion feature. The system identifies companies that issue cards or do BINs and build partnerships. [bank identification number] Sponsors considering the launch of crypto cards.
The initiative by the 57-year-old credit card company, which has nearly 30,000 staff worldwide, is well timed with the recent entry into the digital asset space by traditional financial firms and stands out from other initiatives in the industry. is to further strengthen the Last month, the company announced a cryptographic authentication program that uses technology from Mastercard-owned blockchain analytics firm CipherTrace to perform anti-money laundering (AML) checks on cross-border transactions.
“The expanded Mastercard Engage network, combined with the safety and security that the Mastercard brand brings, will help players within and outside the digital asset ecosystem achieve their ambitions at scale,” said Blockchain and Digital Assets. Executive Vice President Raj Dhamodharan said. said in a statement.
Mastercard has also named a group of cryptocurrency payment firms to participate in the Engage program. The list of companies included Baanx, Credential Payments, Episode 6, Immersve, Monavate, Moorwand, PayCaddy, Paymentology, Pomelo, Swap and Unlimit.