It’ll be easier for consumers and corporates to spend cryptocurrency on physical or digital Mastercard payment cards
Mastercard has announced the launch crypto-funded payment cards across the Asia Pacific region. The company partnered with Amber Group, Bitkub in Thailand, and CoinJar in Australia, all of which offer cryptocurrency purchase and exchange services in their domestic markets. These companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program.
According to the press release, for the first time, consumers and businesses in the Asia Pacific region will be able to apply for crypto-linked Mastercard credit, debit or pre-paid cards. They will be able to instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted.
This announcement comes at a time when interest in cryptocurrencies is at an all-time high across the Asia Pacific region. According to the latest Mastercard New Payments Index, 45% of those surveyed in APAC say they are likely to consider using cryptocurrency in the next year – a huge jump over the 12% that already used it in the last year, and higher than the global average of 40%.
We’ve reported that Amazon customers will be able to pay with Venmo.