Mastercard’s ‘Engage’ Program now in Crypto Card Market.

Mastercard, the world’s second-largest payment-processing company, has announced that it is expanding its Engage program to help scale crypto and blockchain technology.

According to a press release, Mastercard is expanding its Engage program to allow several crypto firms to utilize the credit card giant’s network.

The credit card giant has announced that it will enable businesses to launch and scale products that power the Web3 economy quickly through its new track as part of its global Engage program.

Mastercard Engage aims to make it easy for partners to work with the credit card company and speed up time-to-market for product innovation by providing access to the company’s global network and expertise.

How Will Mastercard Engage Program Help Crypto?

Mastercard has unveiled its plans to expand the Engage partner network, with a particular emphasis on digital assets.

This expansion aims to identify potential partners who can introduce new crypto card programs to the market.

Furthermore, Mastercard intends to offer crypto-to-fiat conversion capabilities through these partnerships.

The payment processing giant believes that this initiative will enhance accessibility and collaboration for various companies within the crypto value chain. The Engage program will focus on two key areas: forming partnerships with organizations interested in launching crypto cards and collaborating with BIN sponsors (Bank Identification Numbers).

By leveraging the Engage program, Mastercard aims to promote innovation and drive the adoption of digital assets in the financial industry.

Mastercard’s initiative is in line with recent entries by traditional financial firms into the crypto space.

Crypto Companies Joining the Mastercard Engage Program

In its press release, Mastercard revealed the names of the crypto payment companies joining its Engage program.

Participating companies include Baanx, Credential Payments, Episode 6, Immersve, Monavate, Moorwand, PayCaddy, Paymentology, Pomelo, Swap, and Unlimited.

Raj Dhamodharan, Executive Vice President of blockchain and digital asset products, said in a statement:

“The expansion of Mastercard Engage’s network will allow various players, not just within the crypto asset ecosystem, to join the Mastercard brand. It will allow us to realise our ambitions at scale while being backed by the safety and security of our customers.”

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