Saturday, December 4

Mastercard joins Bakkt for its clients to offer crypto services


Mastercard announces a partnership with Bakkt, a digital asset platform, so that its clients can offer services related to the sale and storage of cryptocurrencies. The company announced in a tweet that with this union, it hopes that merchants, banks and FinTechs in the United States can adopt and offer a broad set of cryptocurrency solutions and services.

Mastercard, Bakkt and cryptocurrencies

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The multinational explains that Bakkt allows enabling Crypto-as-a-Service, providing quick access to cryptocurrency capabilities. Among the new services and solutions that Mastercard partners may offer, the simplified issuance of branded cryptographic credit and debit cards is also mentioned.

In loyalty services

Mastercard will also integrate cryptocurrencies into its loyalty solutions. This will allow its partners to offer cryptocurrencies as rewards and create fungibility between loyalty points and other digital assets. “This means that consumers can earn and spend rewards in cryptocurrencies instead of traditional loyalty points. And seamlessly convert your crypto holdings to pay for purchases.

According to the company, consumers continue to seek crypto assets as an option for everyday purchases. In the Bakkt US Consumer Crypto Survey of 2,000 American consumers, nearly half (48%) of those surveyed said they bought cryptocurrencies in the first half of 2021. 32% of those who did not were very or somewhat interested in doing it before. end of the year. Also, according to the Mastercard New Payments Index, 77% of millennials are interested in learning more about cryptocurrencies. 75% said they would use cryptocurrency if they understood it better.

Mastercard is ahead of Visa and announces payments in cryptocurrencies on its network

Reach millions of consumers

On the partnership, Nancy Gordon, Executive Vice President of Payments and Loyalty Rewards at Bakkt, indicated that they were excited to be able to provide crypto loyalty services to millions of consumers. “As brands and merchants seek to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to meet the growing demand for crypto flexibility, payments and rewards,” he said.

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