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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Payments Card Are Coming To Asia Pacific, Courtesy Of Mastercard

Best Owie
Best Owie
3 years ago
3 mins read
Picture of a bitcoin card

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Mastercard has been upping its bet in the bitcoin space of late. The payments processor, alongside its rival Visa, has realized that the future of payments will happen on the blockchain, hence it is better to get in now than later. This has put MasterCard at the forefront of development on the payments side of cryptocurrencies, propelled forward by its enormous resources that can be put towards research.

The latest in the long line of innovation in the crypto space is the launch of crypto payment cards in the Asia Pacific. The cards will help accelerate MasterCard’s effort to enable crypto payment in the world, along with buying and selling their cryptocurrencies. Users will be able to spend bitcoin and other digital currencies using the card in Asia-Pacific.

Mastercard Launches Asia-Pacific’s First Crypto Card

Mastercard announced on Monday that it would be releasing Asia Pacific’s first crypto-liked payment card. Users would be able to fund their cards using bitcoin and other cryptocurrencies, which would be automatically converted to fiat currencies, and they can use the cards to pay for goods and services wherever Mastercards are accepted. Individual customers and businesses will be able to take advantage of the cards, which offer a choice between credit, debit, or prepaid crypto cards.

Related Reading | How Bitcoin Has Performed Compared To Top Stocks

Mastercard partnered with leading digital currency companies in the region to bring this service to its customers. Coinjar, Amber Group, and Biktub were the power trio, in conjunction with Mastercard, responsible for making the cards a reality.

Crypto Mastercards were previously unavailable in APAC. However, these three companies have joined Mastercard’s Crypto Card Program, a program designed by the company to enable crypto firms to offer secure and compliant crypto payment cards to residents of the region.

Bringing Bitcoin Payments To The Forefront

While merchants and business owners have already begun to offer bitcoin and crypto payments in the region, it is still an inefficient process given the nature of cryptocurrencies. With credit, debit, or prepaid cards, customers would not have to worry about sending their cryptocurrencies to a merchant’s wallet. Instead, being able to instantly convert their cryptocurrencies and pay right away with fiat currency.

Related Reading | New York Mayor Says Cryptocurrencies Should Be Taught In Schools

Mastercard rolled out the product at a time when interest in crypto is at an all-time high in the region. A poll carried out in APAC saw 45% of respondents saying they would consider using crypto in the next year. This was much higher than the global average of 40%. It is the latest step in Mastercard’s mission to modernize payments systems around the globe, providing a better way for individuals and businesses to transact.

Bitcoin price chart from TradingView.com

BTC continues on upward trend | Source: BTCUSD on TradingView.com

Speaking on its latest roll-out, Rama Sridhar, Executive Vice President of Digital & Emerging Partnership and New Payment Flows for Mastercard in Asia Pacific, said; “In collaboration with these partners that adhere to the same core principles that Mastercard does – that any digital currency must offer stability, regulatory compliance, and consumer protection – Mastercard is expanding what’s possible with cryptocurrencies to give people even greater choice and flexibility in how they pay.”

Featured image from Bitcoin News, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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