Big moves from big companies: Mastercard to integrate crypto for banks and merchants in its payments network-web3资讯-ODAILY

This article comes fromCNBC, original author: Hugh Son

Odaily Translator | Nian Yin Si Tang

Big moves from big companies: Mastercard to integrate crypto for banks and merchants in its payments network

This article comes from

, original author: Hugh Son

Odaily Translator | Nian Yin Si Tang

The crypto economy is about to expand.

Payments giant Mastercard is preparing to announce that thousands of banks and millions of merchants in its payments network will soon be able to integrate crypto services into their products, CNBC has learned.

This includes bitcoin wallets, credit and debit cards that earn rewards in cryptocurrencies and spend digital assets, and loyalty programs that convert airline or hotel points into bitcoin.

To make this happen, Mastercard is partnering with Bakkt, the crypto firm recently spun out of Intercontinental Exchange, which will be behind the escrow service for registered users, executives from both companies told CNBC. provider.

Affected by this news, the market showed that the stock price of Bakkt (BKKT.N) soared, once rising by more than 70%, and it was temporarily reported at $14.72.expressThe announcement could lead to a dramatic expansion of the ways ordinary Americans can earn and spend bitcoin and other cryptocurrencies. Like Visa, Mastercard also operates one of the dominant global payments networks and has partnerships with more than 20,000 financial institutions around the world. According to the company, there are currently 2.8 billion MasterCard cards in use.

Interest in Bitcoin has been high. Bitcoin has continued to soar this year, rebounded strongly after a period of decline, and returned to above $60,000 this month and continued to hit new highs. U.S. regulators allowed the fund industry to offer Bitcoin ETFs for the first time this month, and large institutional investors such as bond giant Pimco have also followed suit.

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, they are considering trading cryptocurrencies.

Haymond said that interest led Mastercard customers to seek the payment network’s help with crypto services. In this way, she said, the bank can keep customers on its platform rather than seeing dollars move to a crypto exchange.