MasterCard partners Bakkt for crypto push

MasterCard is joining forces with Bakkt to make it easier for merchants, banks, and fintechs to offer cryptocurrency services.

Bakkt’s operations and digital assets mark the expansion of the long-established MasterCard fund, which allows thousands of banks and millions of merchants to incorporate crypto into their products.

MasterCard customers will be able to provide Americans with the ability to purchase, sell and own electronic goods in storage wallets operated by the Bakkt platform. The partnership will also be able to provide crypto debit and credit card information.

MasterCard will also incorporate cryptocurrency into its loyalty solutions, allowing its partners to offer cryptocurrency as a reward and establish bridges between loyalty and other digital assets.

Sherri Haymond, EVP, and digital partner, MasterCard, said: “With Bakkt and in line with our innovative strategy, we will not only empower our partners to provide a strong mix of digital assets options.”

Nancy Gordon, EVP, loyalty, earnings and rewards, Bakkt, adds: “When products and retailers want to accommodate small customers and their businesses, these new proposals represent a unique opportunity to meet this need growing crypto, payment, and payment process. “

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