Three cryptocurrency service providers Amber Group, newly minted crypto unicorn Bitkub in Thailand, and CoinJar in Australia will be launching crypto-linked Mastercard payment cards.
All three of these digital asset service providers offer cryptocurrency purchase and exchange services in their respective domestic markets.
With this move, consumers and businesses in the Asia Pacific region will be able to apply for crypto-linked Mastercard credit, debit or prepaid cards that will enable them to instantly convert their cryptocurrencies into traditional fiat currency.
This can be spent everywhere Mastercard is accepted around the world.
These companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Programme.
As part of the programme, Mastercard supports participating fintech companies by reducing barriers to entry, streamlining the onboarding process and offering access to dedicated fintech and digital asset experts, and in-market teams to accelerate their growth and execution.
“In collaboration with these partners that adhere to the same core principles that Mastercard does – that any digital currency must offer stability, regulatory compliance and consumer protection – Mastercard is expanding what’s possible with cryptocurrencies to give people even greater choice and flexibility in how they pay.”
said Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, Mastercard.
Featured image credit: Pixabay
