• Mastercard is seeking partnerships with crypto entities to expand its cryptocurrency payment card offering.
• Mastercard currently offers cryptocurrency debit cards for several entities, including Gemini, Nexo, Bitso, Lulu Exchange, Bybit, and Binance.
• Other major card issuers also have some collaborations with crypto firms.
Mastercard Eyes More Crypto Expansion Moves
Payments infrastructure company Mastercard is seeking more partnerships with crypto entities to expand its cryptocurrency payment card offering.
Current Offerings
Mastercard currently offers cryptocurrency debit cards for several entities, including Gemini, Nexo, Bitso, Lulu Exchange, Bybit, and Binance.
Other Major Card Issuers Involved With Crypto
Beyond cryptocurrency payment cards, Mastercard also has relationships with other crypto entities like Coinbase and Bakkt. Other major card issuers such as Visa and American Express also have some collaborations with crypto firms.
Regulatory Scrutiny Reducing Appetite For Such Partnerships
The recent regulatory scrutiny appears to have reduced traditional financial institutions’ appetite for such partnerships. Several crypto firms are currently struggling to find banking partners.