Mastercard has recently announced that it has worked with some of the leading digital asset platforms in Asia to introduce special payment cards for BTC. These cards will allow customers in the region to have the opportunity to convert bitcoin as well as other crypto-assets into fiat currencies in an easier manner.
The announcement was made by Mastercard just recently, claiming that it has joined hands with Amber Group from Hong Kong, Bitkub from Thailand, and Coinjar from Australia. According to the official report, the partnership will make it possible to introduce individuals and businesses in the Asia Pacific region to the opportunity to use crypto-linked, debit, as well as prepaid cards.
As a result of owning the card, individuals will have the opportunity to convert BTC and other digital assets into fiat currencies in no time. After the conversion, the money can be used anywhere, just like regular Mastercards.
The introduction of the new cards is quite important for the cryptocurrency market. Especially because the popularity of digital assets has skyrocketed throughout the world, especially in the region of Asia Pacific.
According to the official report of Mastercard, over 45 percent of the customers in the region are planning to invest in cryptocurrencies or use them for transactions, while the global average is 40 percent. This puts the Asia Pacific at the lead in terms of interest in the cryptocurrency industry. Thus, it should not come as a surprise that the card giant decided to go with the region for its new service and product.
The new service introduced by the card giant is quite important for the future development of the cryptocurrency industry not only in the region but around the world. Cryptocurrency enthusiasts have long been waiting for the large-scale, mainstream adoption of digital assets, and with announcements like this, the market is getting closer to the long-awaited development.
Thanks to the introduction of cryptocurrency cards, the activities for crypto traders will be much easier. Not only will they be able to easily transact their cryptocurrencies into fiat currencies, but they will also be able to use their digital assets for actual payments for goods and services.
The cards will make everything a lot easier for crypto holders as they will be able to use them for day-to-day activities without having to go through the tiring process of withdrawing and transacting their crypto assets.
According to the Executive Vice President of Mastercard, Rama Sridhar, this collaboration is very important for Mastercard for several reasons. Apart from the fact that Mastercard will be offering an innovative service to its clients, the company also has the opportunity to partner up with companies that adhere to the same core principles as Mastercard.
According to him, Mastercard is working very hard to further expand in the cryptocurrency industry and offer clients better flexibility when it comes to how they want to pay.
Crypto Industry Is Growing Very Fast
Around the world, the growth of the cryptocurrency market is becoming faster day by day. More people are showing interest in the market and this huge interest is causing innovations to be introduced quite often.
Numerous aspects of the market have introduced quite a huge development over the past few years. For starters, thanks to the numerous crypto exchanges around the world, it is becoming easier for individuals to start trading digital assets. These exchanges offer traders of all interests something they might like and enjoy.
Thanks to partnerships with these crypto exchanges and leading software developers around the world, the technology is developing very fast for crypto trading. A great example of this can be algorithmic trading, which has become very popular recently.
Using crypto auto trading tools provides traders with the opportunity to make profits in the market even if they do not have a deep understanding of it. The trading robots can analyze the price movements in the market in a very fast and efficient manner, making everything a lot easier.
It has also become very common for crypto exchanges to partner up with leading financial institutions around the world. This usually happens to provide people with high-quality and effective crypto services that can make the market even more efficient.
There have been several instances around the world when leading commercial banks partnered with crypto exchanges to offer their clients access to crypto trading services and crypto transactions. Many representatives of modern banks have noted that for them, it is a way to guarantee their place in the future of finance.
The recent announcement of Mastercard is just another great example of how far the partnership between financial giants and crypto exchanges can go. Such services and products make it easier for crypto traders and investors to live their day-to-day lives.
As the cryptocurrency market continues to grow around the world and the demand for high-quality services continues to increase, it is only fair to expect similar partnerships to continue to ensure the highest quality of services offered to crypto enthusiasts.