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Mastercard has entered into a partnership with crypto payment platform MoonPay to explore the potential benefits of cryptocurrencies and blockchain technology. The collaboration, announced by MoonPay, intends to leverage Web3 tools to enhance experiential marketing and create new ways to connect with Mastercard’s consumers.
Under this partnership, Mastercard will be able to harness MoonPay’s entire Web3 portfolio. This includes making use of features like authentication, minting, and ETHPass. MoonPay will also work closely with Mastercard’s agency, Otherlife, to develop strategies, creative content, and front-end development for their experiential marketing initiatives.
MoonPay will also work on integrating Mastercard’s products and solutions to enhance compliance and trust within the Web3 industry. MoonPay will specifically incorporate Mastercard tools such as “Click to Pay,” Mastercard Send, and Mastercard Crypto Credentials into its payment solutions.
Mastercard had not yet made any official statement regarding the partnership. Mastercard’s Web3 marketing team and partnership executives have made comments on social media, indicating excitement and anticipation at the upcoming partnership.
This partnership underscores Mastercard’s growing interest and involvement in the blockchain and cryptocurrency space. In recent years, the company has introduced multiple products and initiatives designed to embrace and leverage the benefits of the blockchain and digital assets.
Mastercard’s crypto history
This is not the payment giant’s first steps in crypto by any means. In 2022, Mastercard initiated a program that allows banks to offer cryptocurrency trading capabilities to their customers in collaboration with Paxos, a regulated blockchain infrastructure platform. The company has also collaborated with prominent entities in the crypto industry, including leading crypto exchange Coinbase, to enable its payment services in the Web3 and nonfungible token (NFT) ecosystems.
The collaboration between Mastercard and MoonPay points to the growing adoption of the potential of cryptocurrencies and blockchain technology in the global financial and payment industry. The partnership aims to unlock innovative solutions that could enhance the consumer experience while promoting the adoption of cryptocurrencies and blockchain technology.