Mastercard to bring Bitcoin to Australia: Crypto-linked card in the works
The crypto-verse has moved into every part of the world. The increased demand and widespread use of the industry has forced governments to roll out regulations governing them. Further raising its presence in the land down under, Bitcoin [BTC] decided to explore Australia with Mastercard.
According to a recent press release, the Australian crypto exchange Ebonex partnered with Mastercard. This collaboration was specifically designed to formulate a new crypto-linked card. With this, Ebonex gains the status of Mastercard’s main member for issuing crypto-financed payment cards from the company.
With this card, customers of the crypto exchange Ebonex will be able to use Bitcoin and other assets where Mastercard is accepted. This process will reportedly not require the conversion of crypto to fiat.
Speaking on the same, the CEO of the crypto firm, Dong Hu said,
“Joining the Mastercard network will give us the opportunity through Ebonex to drive innovation in the crypto and payments space in Australia. We believe that the ability to work directly with Mastercard, a global leader in payments technology, will advance the creation of solutions that will enable customers, merchants and businesses to move digital assets through the global Mastercard payment network.”
In addition, Hu pointed out that the company would roll out both physical as well as virtual cards. The rewards that come with it include digital assets, cashback, lounge access, NFTs, flyer points, online media and music subscriptions.
It should be noted that Mastercard partnered with Binance earlier this week. Binance and the payments giant hope to roll out a prepaid card in Argentina. This is not the first time Mastercard has expressed interest in crypto. It seemed that the firm was slowly taking over the industry.
Bitcoin keeps a low profile
Despite the bear market that pushed Bitcoin below $20,000, its adoption rate did not witness a massive drop. While more platforms continued to adopt the cryptocurrency, the price did not give investors any respite.
At press time, Bitcoin was trading at $22,969.25 with no major price swings in the past 24 hours. However, its counterpart Ethereum was up by almost 4 percent.
