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Mastercard announces plan to launch its blockchain

Mastercard announces plan to launch its blockchain

As the world continues to embrace new and emerging payment technologies like cryptocurrencies, Mastercard is ushering in a new path as part of its Engage global network of partners to enable businesses to rapidly launch and scale products that power the Web3 economy.

Mastercard Engage, he says, simplifies partner collaboration with Mastercard and accelerates time to market for product innovation through access to the company’s global network, expertise, technology and resources. In the past year alone, more than 150 Mastercard Engage partners have helped their customers implement innovative solutions in more than 500 million accounts using Mastercard products and services.

It indicates that Engage’s partner network focused on digital assets will help identify partners who can help bring new crypto card programs to market, as well as enable crypto-to-fiat conversion. This, in turn, will broaden access to many different players throughout the cryptocurrency value chain. The benefits of Mastercard Engage can be divided into two main areas.

Additionally, helping companies become partners for BIN issuers or sponsors looking to launch new crypto card programs and payment ecosystem enablers looking to scale crypto payment solutions with BIN sponsors, Virtual Asset Service Providers (VASPs), processors and more.

And, helping companies find a partner: For digital asset companies or innovators looking for the right partners to launch and scale their offerings.

Commitment to innovate

“Mastercard is committed to co-innovating across the industry to enable access to crypto and blockchain technology. This not only unlocks potential, but also offers a greater variety of payments and commerce,” said Raj Dhamodharan, Mastercard’s executive vice president of Blockchain and Digital Assets. “The Mastercard Engage network will help empower players across the ecosystem, and others outside of the ecosystem, to fulfill their ambitions at scale, along with the security that comes with the Mastercard brand.”

The following enablement partners join Mastercard Engage to drive blockchain innovation:

Baanx (EU) – Offers a variety of services to seamlessly store and spend cryptocurrency at over 100 million acceptance locations worldwide.

Credencial Payments (LAC): integrates payment methods with digital onboarding functionalities, focused on providing solutions for merchants and consumers.

Episode Six (AP, EU, NAM) – Provides enterprise-grade payment processing and digital ledger infrastructure globally.

Immersve (AP) – Supports centralized and decentralized payment experiences through an issuance platform as a service.

Monavate (EU): Improves the way the world makes payments through its smarter, faster and easier card management platform.

Moorwand (EU) – Provides BIN sponsorship, digital banking and compliance services for banks, fintechs and payment companies in the UK and EEA.

PayCaddy (LAC): enables tech and non-tech companies in Latin America to launch digital banking and card products quickly and efficiently.

Paymentology (AP, LAC, MEA): Enables banks, digital banks and fintechs to issue and process cards quickly, anywhere in the world, at scale.

Grapefruit (LAC): allows companies to launch and scale their fintech business in weeks in Latin America.

Swap (LAC): Offers a comprehensive financial solution, from regulatory support and banking services to card issuance and stamping, for fintechs, financial institutions and digital banks.

Unlimit (UE) – Offers a large portfolio of financial services, including payment processing, banking-as-a-service (BaaS), and a fiat-ramp solution for cryptocurrency, DeFi, and GameFi.

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