Mastercard is expanding its interst in virtual currencies, approving Wirex as the first native cryptocurrency platform to be granted principal membership, allowing it to directly issue payment cards.
Mastercard principal membership enables Wirex to issue payment cards directly to consumers, making it easier for people to buy, hold and exchange multiple traditional and cryptocurrencies.
The card scheme is inviting other crypto operators to join its Accelerate programme for emerging brands and fintechs, allowing for fast onboarding and technical and growth support.
Raj Dhamodharan, EVP, digital asset and blockchain products and partnerships, says: “The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy. Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay.”