Crypto Credit Card

MasterCard is planning to integrate crypto services into their payment network, a move that could expand the use of cryptocurrency globally. The service will be managed by Bakkt, a spinoff of Intercontinental Exchange with experience in all aspects of crypto commerce.

The partnership will allow MasterCard partners to buy, sell and hold cryptocurrencies. By offering crypto wallets and credit cards, banks will be able to keep their customers on their platform rather than seeing assets migrate to crypto exchanges. Merchants, restaurants, hotels and airlines will have the option of offering rewards in bitcoin rather than conventional points. And customers will have the ability to convert existing rewards for crypto while having more spending flexibility.

MasterCard’s global network includes 20,000 financial institutions and 2.8 billion card users.