MasterCard’s ever-increasing presence in the crypto industry has prompted yet another strategic move of promoting its Bitcoin Card Services across the Asia Pacific region.
The latest MasterCard Bitcoin Card expansion involved a newfound partnership with three digital asset companies that will enable native users for exchanging Bitcoin (BTC) among other cryptocurrencies into fiat. MasterCard has partnered with Australia-based trading platform Coinja, Amber Group in Hong Kong as well as Bitkub, a Thai crypto exchange.
Individuals and companies through the assistance of the three companies will have the opportunity to get crypto cards whether they are debit, credit, or prepaid via MasterCard. This strategic decision was driven by the constantly increasing interest in digital assets in the local population of the Asia Pacific region.
Per a recent survey on the population of the region, a total of 45% have plans to invest in digital assets over the next year. Naturally, MasterCard made the decision to capitalize on the opportunity given that the Asia Pacific region percentage is 5% higher than the average of the global percentage of users interested in digital asset investing.
MasterCard’s Executive VP monitoring the Asia Pacific partnerships Rama Sridhar commemorated the successful partnership by noting that, “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.”
Not so many years ago MasterCard used to block cryptocurrency transactions. With the rise of the crypto industry, the digital payment titan has fully embraced the change by aiming to become the main player in crypto payments. This move is nothing short of a strategy of getting a piece of what may very well be the biggest transaction corridor of cryptocurrencies to date.