Through its partnership with Binance, Mastercard is set to facilitate cryptocurrency payments across a vast network of over 90 million merchants.
Mastercard is committed to bringing cryptocurrencies into everyday transactions through its collaboration with Binance, enabling users to pay with popular digital currencies like Ethereum, Bitcoin, Dogecoin, and Binance Coin in more than 90 million points of sale that accept Mastercard. Additionally, Binance cards will facilitate real-time conversion of cryptocurrency into local currency, and users can enjoy an enticing 8% crypto cashback.
Michael Miebach, Mastercard's CEO, announced this exciting development on LinkedIn, emphasizing the transformative potential of blockchain technology. post :
The first phase of the Mastercard and Binance initiative is set to launch in Argentina, with plans for subsequent expansion to other regions. It's noteworthy that earlier this month, the duo also unveiled a beta version of the Binance Card in Argentina, marking it as the pioneering country in Latin America to adopt the product.
Previously, Mastercard has rolled out various initiatives related to Web3. For example, in April, they filed numerous trademark applications related to NFTs for the brand names 'MASTERCARD', the Circles Logo, and their famous 'PRICELESS' tagline. Then in June, they launched a service that allows users to buy non-fungible tokens using fiat currencies.
Looking ahead, the question arises: what might the blockchain landscape resemble in five years? We're starting to see early indicators of this evolution. The partnership between Mastercard and Binance is just one example of how cryptocurrencies are gradually making their way into arenas that once exclusively used fiat currency. Recently, PayPal has integrated cryptocurrency features into its mobile platform, and a Deloitte survey from June highlighted that many businesses are considering crypto payments as a top priority. Prominent fashion labels have also started to accept digital currencies, along with popular brands like a leading Mexican restaurant chain. Mastercard is fully embracing the Web3 revolution by rolling out an NFT payment service. NFT payment service In collaboration with firms like Ebang and Ebonex, Mastercard has introduced a card linked to crypto transactions.
Rapper Ice Cube recently expressed his support for the #DogeArmy following a significant Dogecoin transaction.
concludes Michael Miebach’s post.
Please remember, the information shared on this page should not be regarded as legal, tax, investment, financial, or any other type of advice. It’s essential to invest only what you can afford to lose and seek personal financial counseling if you have any uncertainties. We recommend reviewing the terms and conditions, alongside the support resources offered by the issuer or advertiser. MetaversePost is committed to providing accurate and unbiased news, but market conditions may change unexpectedly. Valeria serves as a journalist for Metaverse Post, focusing her efforts on fundraising, AI developments, metaverse trends, digital fashion, NFTs, and topics related to Web3. Holding a Master's degree in Public Communications, Valeria is also pursuing a second major in International Business Management. In her spare time, she enjoys photography and fashion styling. At just 13, she launched her first fashion blog, which sparked her passion for journalism and style. 80% of merchants Residing in northern Italy, Valeria frequently works from various cities across Europe. Balenciaga and Gucci Polygon has introduced the ‘Agglayer Breakout Program’ to promote innovation and provide value through airdrops to POL stakers. Chipotle .
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