Mastercard speeds up crypto partner program; grants Principal Membership to Wirex

Source: IBS Intelligence 2020-07-21

Mastercard announced that it has expanded its cryptocurrency program and invited cryptocurrency and crypto card partners to join its Accelerate program. The company also said that Wirex has become the first native cryptocurrency platform to be granted a Mastercard principal membership, thus given the ability to issue payment cards directly.

Mastercard’s Accelerate program provides a single entry point to the company’s range of specialized programs. It aims to give crypto partners and other FinTechs support and assistance for every stage of their growth and transformation, from market entry to global expansion.

“The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy,” said Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard. “Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.”

According to Mastercard, Wirex will now be able to issue payment cards directly to consumers and allow customers to convert their cryptocurrencies into traditional fiat currencies instantly. Users will also benefit from Wirex’s Cryptoback rewards program, which automatically gives customers up to 1.5% back in Bitcoin for every purchase made in-store.

“We are very excited for Wirex to be the first crypto-native company granted principal membership from Mastercard,” said Pavel Matveev, CEO, and co-founder of Wirex. “It represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators and will help us to realize our vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal.”

Mastercard

Wirex

Mastercard speeds up crypto partner program; grants Principal Membership to Wirex

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