Mastercard opens the door for Bitcoin with this news
Mastercard has entered into a partnership with crypto company Bakkt, opening the door to Bitcoin and other cryptocurrencies.
Good news for crypto and for anyone hoping that established companies will take it more seriously. There is a new development going on in that area. Mastercard has signed an agreement with Bakkt. That is a cryptocurrency company and will act as a kind of intermediary between the banks and MasterCard in the field of crypto.
Mastercard and Bakkt
With this partnership, banks can receive rewards and make purchases through the Mastercard payment network, among other things. Think of buying a plane ticket with Bitcoin via Mastercard or booking a hotel. It is then possible to safely store your crypto via Bakkt, since most banks do not yet offer this option.
This development is significant, because Mastercard works with thousands of banks. All well-known banks in the Netherlands are also compatible with the company’s payment network. To give you a picture. More than 22,000 banks use the Mastercard license and there are 2.8 billion active Mastercards in circulation.
For crypto, the partnership between Mastercard and Bakkt is another step closer to becoming mainstream. It will become more and more normal, just like regular money such as the euro or dollar.
