Unbanked and Mastercard have agreed to cooperate to accelerate the process of issuing decentralized finance (DeFi) cards in Europe.
As part of the partnership, the companies will use their potential presence in the UK and continental Europe to work with Web3 organizations. The purpose of this activity is to facilitate the issuance of card programs based on cryptocurrency.
Christian Rau, senior vice president of financial technology and cryptography at Mastercard Europe, said that the company aims to offer individual consumers and businesses a choice of how to make payments and receive funds. She called cooperation with Unbanked a confirmation of the intention to establish an accelerated issue of cryptocurrency cards, which will expand the range of services available on the financial market.
As a result of the joint activity of Unbanked and Mastercard, the Litecoin card, which for the past two years has been available only to US residents, will be offered to consumers in the EU and the UK.
Unbanked provides services for issuing cryptocurrency cards and managing programs for Web3 companies. The firm worked with the Litecoin Foundation to offer the card Litecoin in the US market.
The co-founder and co-CEO of Unbanked, Ian Kein, stated that Mastercard demonstrates foresight when launching projects related to digital technologies.
The announcement of this partnership came about two months after Unbanked expanded its cryptocurrency card program to the UK and some European countries, interacting with the London-based payment company Moorwand.
Unbanked Card allows users to top up their accounts with 15 different cryptocurrencies. When making purchases and money transfers, they use these cards, just like any other debit card. Unbanked facilitates real-time conversion into the required fiat currency.
As we have reported earlier, Mastercard Partners With Cash Plus to Launch International E-Card in Morocco.