MasterCard has signed an agreement with cryptocurrency firm Bakkt to make crypto options available to merchants and banks through its payment network, the company announced.
Banks located in the global MasterCard payments network are in able to offer rewards in cryptocurrency via credit and debit cards.
For example, reward points can be paid for purchases such as airlines or hotels with cryptocurrency.
Consumers are also in able to transfer cryptocurrencies to pay for purchases and hold digital assets via wallets via the Bakkt platform.
The company stated at the beginning of questyear it is starting to allow its cardholders to make some transactions via select digital currencies on its network.
The company announced in July that it was working with startups in the cryptocurrency and asset classes asset Digital as part of its efforts to make cryptocurrency more widely used widely used by consumers.
A deal with Bakkt could significantly expand cryptocurrency access and adoption. The company says there are currently more than 2.8 billion active Mastercard cards and more than 22,000 banks and financial institutions in his entire network.
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