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Mastercard, a global pioneer in digital payment solutions and technologies, has launched a new partnership to improve the global integration of cryptocurrency payments.

Mastercard wants more banks and businesses to accept cryptocurrency payments, expanding its card program to include bitcoin wallets and exchanges.

The American global financial services business hopes to do this through a broad relationship with some key partners. According to the official article, Evolve Bank & Trust’s partners will be Paxos Trust Firm, a prominent blockchain infrastructure and regulated stablecoin issuing platform, and Circle, a peer-to-peer payments technology company and the primary operator of the USD Coin (USDC).

Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, stated:

  • “The collaboration between Circle and Mastercard demonstrates that dollar digital currencies like USDC play a foundational role in making payments more efficient and can facilitate new economic activity for businesses worldwide.”

While there have been possibilities to provide bitcoin payments, Mastercard claims that converting cryptocurrency to fiat and vice versa has always been difficult; thus, this is a critical step in addressing this issue.

Mastercard talks with some companies, including Metropolitan Commercial Bank to issue cards, Uphold and BitPay to supply real-time crypto wallet technology, and i2c Inc., Apto Payments, and Galileo Financial Technologies® to provide processing and program administration.

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