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Mastercard expands cryptocurrency services with wallets, loyalty rewards -Breaking

by Mike Robinson

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© Reuters. PHILR PHOTO – Smartphone featuring Mastercard logo seen front and center of the displayed stock chart in this illustration from July 15, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters] – Mastercard Inc. (NYSE:) stated Monday that its network partners would be able to allow their customers to purchase, sell, and hold crypto using a digital account. They can also reward them with digital currency as part of loyalty programs.

Bakkt Holdings Inc is the digital asset platform created by Intercontinental Exchange (NYSE) and which was acquired by Credit Card giant, The Credit Card Company.

Bakkt, which was established in 2018, went public during a $2.1billion merger with a blank check company. The shares of Bakkt rose 77% to $16.19 Monday.

Mastercard announced that partners may also be able to offer rewards in cryptocurrency for customers who do not have loyalty points.

The company had said in February https://www.reuters.com/article/us-crypto-currency-mastercard-idUSKBN2AA2WF it would begin offering support for some cryptocurrencies on its network this year.

Competitors were defeated last year Visa Inc (NYSE:) had partnered https://www.reuters.com/article/us-blockfi-crypto-currency-visa-idUSKBN28B603 with cryptocurrency startup BlockFi to offer a credit card that lets users earn bitcoin on purchases.

The world’s most popular cryptocurrency reached a record $67,016 after last week’s debut of the U.S.-based bitcoin futures-based exchange traded funds. This year, it has doubled its value.

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