Mastercard Adds Crypto Consulting Service in Latest Effort to Boost Cryptocurrency Adoption

Payments giant Mastercard is expanding its payments-focused consulting service to include cryptocurrency. It covers “a range of digital currency capabilities, from early-stage education, risk assessments, and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.”

Mastercard announced Tuesday the expansion of its payments-focused consulting service. Among the new practices is one dedicated to “crypto & digital currencies,” the company wrote.

Noting that it is “helping banks navigate the adoption of digital currencies,” the payments giant detailed:

Mastercard’s consulting efforts with banks and merchants cover a range of digital currency capabilities, from early-stage education, risk assessments and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.

“Mastercard has curated partnerships with digitally native firms that offer best-of-breed solutions in cryptocurrencies,” the company added.

Moreover, the payments company “has helped fintechs expand into new markets, working through go-to-market planning and commercialization strategies.”

Mastercard began bringing crypto onto its network in February last year. The company is focusing on developing products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).

In January, Mastercard partnered with cryptocurrency exchange Coinbase to make non-fungible tokens (NFTs) more accessible to everyone. Customers will be able to use their Mastercard cards to make purchases on Coinbase’s coming NFT marketplace.

What do you think about Mastercard’s crypto efforts? Let us know in the comments section below.