Seduced by cryptocurrencies for a long time, the American company MasterCard is sparing no effort to democratize these assets. We now know why this giant of payment and withdrawal systems is increasing its partnerships with world-class crypto exchanges. Recently, MasterCard has chosen to ally with Eurocoinpay in order to attract a maximum of Spaniards, Spanish speakers and why not Earthlings.
Eurocoinpay, MasterCard’s new ally
For MasterCard, the launch of new products associated with cryptocurrencies will accelerate the democratization of these assets. To do this, the American company does not hesitate to ally with several crypto exchanges.
Recently, this American credit card and payment specialist established a partnership with eurocoinpay, a Spanish crypto exchange. Their goal being the launch of debit cards based on bitcoin and other crypto assets in the land of bullfighting.
Currently, these new card types are available to all Eurocoinpay users. Those who take the first step will be offered privileges such as purchasing products from more than 90 million shops across the EU and around the world. This is announced by Michael Miebach, CEO of MasterCard.
Herminio Fernandez de Blas, CEO of this exchange recognized by the Bank of Spain, is jubilant at the idea of issuing such solutions aimed at making cryptos more and more popular.
” [Ce partenariat] consolidates purchases with cryptocurrencies, which is increasingly being implemented in a large number of stores accepting these digital assets as a form of payment he had said.
A crypto card unsuitable for money laundering
By launching this crypto debit card, MasterCard and EurocoinPay think to make the use of bitcoin, ether, dogecoin, shiba inu and others more common. They believe that this approach will allow users to have other payment alternatives at their fingertips.
We all agree that these assets constitute digital currencies: their queen, bitcoin, vies for the title of safe haven with gold.
” It’s one more step to make the use of cryptocurrencies more conventional. This is not to encourage the trading of these digital currencies, but to make them available to users so that they can make the decision to use the digital asset of their choice as a means of payment. “, adds Fernandez de Blas.
Note, however, the existence of some granting conditions for this crypto debit card. Among others, there are:
- MasterCard’s money laundering controls;
- Eurocoinpay requirements;
Only EurocoinPay customers will have access to this crypto card, precise bitcoin.com.
MasterCard and its crypto card stories
MasterCard may not mutate into a crypto exchange, but its contribution to the democratization of cryptocurrencies will indeed be substantial.
Note that the American company specializing in payment and withdrawal cards is not its first collaboration with crypto players.
As a reminder :
- August 2020: MasterCard had partnered with Wirex to allow users to convert their cryptos to fiat instantly via an eponymous card;
- February 2021: Established a partnership with Island Pay to issue prepaid cards linked to the Bahamas CBDC;
- May 2021: launch of a credit card with instant cash back in bitcoin with the help of Gemini;
- April 2022: collaboration between MasterCard and Nexo to offer cards for cryptocurrency loans;
- August 2022: launch of a crypto card in Argentina with Binance;
We are far from having quoted all the efforts initiated by MasterCard for the promotion of cryptocurrencies and NFTs. However, the choice of a country that is part of the 27 is proof that several economic players would like to make up for lost time. And since the value of our money in the bank suffers intensively due to inflation, the integration of a new asset into our portfolio will certainly cushion the almost imminent downfall of the current system.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service ofdaily and weekly so you don’t miss any of the essential Tremplin.io!