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By now, you would have to be living under a rock if you haven’t heard of cryptocurrencies and Bitcoin. Regardless of whether or not it will be the future of the world economy, it is clear that cryptocurrencies and particularly Bitcoin, the most popular of these, are gaining importance and are ensuring a place in the economies of the future.
One example is Mastercard’s announcement of its new partnership with three Asian cryptocurrency companies to establish a bitcoin payment card. The digital asset platforms partners are Hong Kong’s cryptocurrency firm Amber Group, Thailand cryptocurrency exchanger Bitkub, and Australian trading platform Coinjar.
The association intends to allow consumers to convert bitcoins and other cryptocurrencies into fiat currencies.
Mastercard is poised to introduce crypto-linked credit, debit, and prepaid cards for individuals and businesses in the Asia Pacific in partnership with those platforms. Cardholders will instantly convert bitcoins and other digital currencies into fiat currency for online or offline purchases. The new offer is limited to merchants who accept Mastercard payments.
The collaboration is the result of a growing interest in cryptocurrencies at an unprecedented rate in the region. Although, this might be the beginning of a global strategy.
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Unsplash.com @ David Shares / Mastercard.