Mastercard has announced a partnership with Bakkt to enable its customers to better embrace cryptocurrencies.
Crypto is taking the financial world by storm, with even established companies rushing to embrace it. Mastercard is one of the biggest financial companies to go all-in on crypto, partnering with Bakkt to do so.
The partnership will enable Mastercard partners to offer their customers “the ability for consumers to buy, sell and hold digital assets.” The crypto wallets will be powered by Bakkt’s platform. Customers will also be able to access branded crypto credit and debit cards, and the partnership will help integrate crypto into Mastercard’s loyalty programs.
“Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options, but also deliver differentiated and relevant consumer experiences.”
“We’re incredibly excited to partner with Mastercard to bring crypto loyalty services to millions of consumers,” said Nancy Gordon, EVP, Loyalty Rewards & Payments at Bakkt. “As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy increasing demand for crypto, payment and rewards flexibility.”