According to data from the #Web3 strategy workshop, representatives of the Mastercard payment giant are exploring various ways to interact with technological crypto startups. In particular, they are considering the possibility of cooperation with organizations engaged in the development of self-service wallets. These include #MetaMask and #Ledger .
#Mastercard's presentation noted that the presence of a payment card helps cryptocurrency storage providers to increase the number of active users. In addition, it makes it possible to launch loyalty programs and organize new revenue streams, allowing holders to freely spend their digital assets.
Companies that issue crypto wallets face significant resource requirements when implementing such cards in new regions. That is why Mastercard is ready to help and connect its existing partners to the release of such products.
"Mastercard is implementing its reliable and transparent approach to digital assets through a number of innovative products and solutions. These include the Mastercard Multi-Token Network, Crypto Credential, CBDC partner programs and other solutions that are designed to unite the #Web2 and #Web3 sectors," the company said.
Many analysts suggest that MasterCard's desire may be related to harsh repression by US financial regulators. Earlier this year, representatives of the organization made it clear that the Engage program would focus on bringing new crypto cards to the market.
According to CoinDesk, Mastercard plans to publish a set of franchise standards or rules for partners. This is necessary to ensure consumer protection, price competition and transaction monitoring requirements.
After the approval of the set of regulations, the next step will be the issuance of a card focused on the EU or the UK as the primary market.
