Mastercard has announced a new partnership with digital assets company Bakkt that will further bring cryptocurrency to the mainstream audience.
Harnessing the knowledge and expertise of Bakkt and combining it with Mastercard’s technology and resources, these two companies aim to bring quick access to various crypto-related activities and transactions to their customers. Of these includes the ability to buy, sell, and hold digital assets, such as BitCoin, through Bakkt-powered wallets offered through co-branded crypto-enabled debit and credit cards.
Additionally, Mastercard will be fusing digital assets into its loyalty program to “create fungibility between loyalty points and digital assets.” This essentially means that customers may soon be able to use their crypto holdings as ‘points’ and redeem various gifts such as vouchers or miles. Customers will also be able to use their stored crypto for purchases.
READ: 3 easy steps to start Bitcoin mining today
With cryptocurrency still on the rise, this kind of partnership is inevitable. With Mastercard and Bakkt joining forces, direct access to crypto wallets will make it easier for customers to spend and monitor their holdings and, more importantly, provide an avenue for cryptocurrency to be more integrated into everyday lives.
Before this, Bakkt also closed a partnership with Google to extend the usability of digital assets through its Google Pay platform.
The company hasn’t officially announced new products or services for this partnership just yet but we’re sure to hear more from this collaboration soon.
