Crypto Adoption Explodes: Mastercard To Allow Merchants And Banks To Use Crypto

The mass adoption of digital assets has been one of the main goals that the crypto industry set. There have been a lot of moves made in this direction and they continue these days.

Now, the latest news involves Mastercard and an important step that the financial giant makes.

Mastercard expands crypto access for businesses as well as consumers.

It’s been just revealed that in a new partnership with digital asset firm Bakkt, Mastercard is launching a range of options that will allow merchants and shoppers to use crypto in various ways.

“Mastercard customers can now enable consumers to buy, sell and hold cryptocurrency, deliver unique, crypto-centric loyalty opportunities, and streamline issuance of branded crypto debit and credit cards.”

The official announcement continues and notes:

“[This is] a multifaceted partnership to make it easier for merchants, banks and fintechs [financial technology] in the US to embrace and offer a broad set of cryptocurrency solutions and services.”

Bakkt CEO Gavin Michael says of the new partnership:

“We’re lowering the barriers to entry, allowing people to take something like your rewards points and trade them into crypto.”

He continued and said:

“It’s an easy way to get going because you’re not using cash, you’re putting something that’s an idle asset sitting on your balance sheet, and we’re allowing you to put in to work.”

Mastercard said that integrating existing loyalty programs with crypto functionality will be benefitting merchants and shoppers. Their move to team up with Bakkt mirrors the will to help crypto go mainstream.

Bitcoin is doing great at the beginning of this week, just like most of the important coins out there. Most of them are trading in the green and the king coin is not an exception.

At the moment of writing this article, BTC is trading in the green and the digital asset is priced at $62,764.

A popular crypto analyst is predicting an epic rally for Bitcoin (BTC) that can push the value of the king crypto at least 30% higher from its current price.