Mastercard, Cryptocurrency Firms, and Accelerate Program

The American multinational financial services corporation is reaching out to cryptocurrency firms. Mastercard would like to encourage them to apply to become partners as part of its cryptocurrency card program.

Mastercard made the decision to simplify access to its Accelerate program for crypto card issuers. Importantly, companies have the opportunity to join this program in several weeks. Moreover, the Accelerate program gives partners support when it comes to the first step in the market, continued growth as well as international expansion.

Notably, Mastercard is ready to help cryptocurrency firms to integrate Mastercard’s technology. Also, partners will be able to benefit from the company’s cybersecurity expertise and market research.

However, companies should take into account that all partners must comply with its core principles. Let’s have a look at them. Companies must provide robust consumer protection to guarantee privacy and security for users. Furthermore, they must operate in compliance with relevant laws and regulations. This then means companies should comply with Anti-Money Laundering Rules. Moreover, the companies will have to provide equal opportunities for all stakeholders, such as financial institutions, merchants, as well as mobile network operators.

The cryptocurrency market continues to grow and Mastercard is actively engaged in this process.

Mastercard and Wirex

Interestingly, Mastercard made an important announcement recently. According to the company, the London-based crypto payment processor Wirex became the first native cryptocurrency platform to be granted a Mastercard principal membership. As a result, Wirex will be able to directly issue crypto payment cards.

It is worth noting that users of Wirex cards will be able to immediately convert their crypto holdings into fiat currency. It is possible to spend converted funds at points of sale that accept Mastercard.

Importantly, the U.K. Financial Conduct Authority regulates this crypto payment processor. Moreover, Wirex has a license to issue crypto cards in Europe. Thanks to Mastercard, it will be easier to make cryptocurrencies more popular around the world.