• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

Mastercard and Bakkt Partner to Offer Innovative Crypto Solutions

Olagoke Ajibola by Olagoke Ajibola
October 25, 2021
in Enterprise
Share on FacebookShare on Twitter

Global financial services corporation Mastercard announces partnership with cryptocurrency firm Bakkt. The announcement came earlier today by the company. The partnership was reached in a bid to provide crypto services to merchants and various banks across its robust payments network.

The company reveals that Banks already on its global payments network will now be able to provide cryptocurrency rewards on credit and debit cards to their customers. Mastercard is also enabling its various partners within its network, like in the airline or hotel industries the ability to offer loyal points as rewards in cryptocurrency and other digital assets. This means that consumers can receive and spend rewards in cryptocurrency instead of traditional loyalty points and seamlessly convert their crypto holdings to pay for purchases. This is the latest move by global financial giant Mastercard in bringing innovative loyalty options to consumers that align with their passion points. Consumers holding digital assets through custodial wallets on Bakkt’s platform will as well be able to convert their crypto holdings to pay for purchases.

Bakkt is a recognized and reliable digital asset platform that provides the buying, selling, storing, and spending of digital assets to a wide range of its customers. Through the Bakkt app, customers can access its value-adding services, Bakkt payments, and digital assets. Mastercard is a global payments company whose services are powered by diverse technologies. Mastercard is on a mission to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. 

Earlier in the year, Mastercard announced that cardholders will be able to conduct transactions on specific cryptocurrencies on its network. The company also announced in July that as part of the effort to make cryptocurrencies more widely used and transactions seamless for consumers, it was working with various crypto and digital asset startups to achieve that.

The new deal with cryptocurrency firm Bakkt began publicly trading on the New York Stock Exchange on October 18th has been reported to significantly expand the adoption of cryptocurrencies. The company discloses that it has about 2.8 billion active Mastercards with about 22,000 banks and financial institutions currently on its network. Access to cryptocurrencies will be easier with partnerships like this.

Sherri Haymond, Mastercard’s Executive Vice President of Digital Partnerships in a statement said that “Mastercard is committed to offering a wide range of payment solutions that deliver more choice, value and impact every day.” He added that “Together with Bakkt and grounded by our principled approach to innovation, we’ll not only empower our partners to offer a dynamic mix of digital assets options but also deliver differentiated and relevant consumer experiences.”

This isn’t the first of big deals such as this. Recall we recently reported that Interswitch, one of Africa’s leading technology-driven companies focused on payments partnered with Interstellar, an enterprise Blockchain infrastructure services company to provide blockchain-powered infrastructure solutions across the African continent. In recent times, the adoption of Cryptocurrency has continued to be the focus, and partnerships like this can only guarantee that cryptocurrency will continue to grow rapidly across the world.

Related Posts:

  • Amid Ongoing Crypto Market Decline, America's Fast-food Company Chipotle Is Now Accepting Cryptocurrency As A Means Of Payment
    Amid Ongoing Crypto Market Decline, America's…
  • paying-with-card-on-phone-1300×650
    Partnership Deal: FCMB, NetPlusDotCom, & MasterCard…
  • Mastercard-MoonPay-stablecoin-payments
    MoonPay and Mastercard Partner to Advance Stablecoin…
  • India’s Apex Bank Lifts Ban On Mastercard
  • MetaMask & MoonPay Partnership Deal Will Leverage Seamless Crypto Purchases Via Direct Bank Transfer.
    MetaMask & MoonPay Partnership Deal Will…
  • Visa and Flocash Partnership Pose as an Expansion Scheme to Sell High-End Fintech Services to SMEs and Merchants.
    Visa and Flocash Partnership Pose as an Expansion…
  • Budpay_Bet9ja
    Partnership Deal: BudPay Electronic Payment…
  • Opay_20241129_171716_0000
    Paystack and OPay, A Powerful Partnership for…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: blockchaincryptocryptocurrencymastercardpayment
Olagoke Ajibola

Olagoke Ajibola

Olagoke Ajibola is a creative writer and content producer with an eye for details and excellence. He has a demonstrated history of telling stories for TV, Film and Online. Aside from being fascinated by the power of imagination, his other interest are travel, sport, reading and meeting people.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • DOJ Reportedly Investigates Google’s Character.AI Partnership May 23, 2025
    • Sony Organises A PlayStation Event for June; A State of Play May 23, 2025
    • Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials May 23, 2025
    • Bluesky Starts Confirming “Notable” Users May 23, 2025
    • Affiniti Raises $17M for AI-Powered Small Business Finance May 22, 2025
    • Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data May 22, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    DOJ Reportedly Investigates Google’s Character.AI Partnership

    May 23, 2025
    Sony Organises A PlayStation Event for June; A State of Play

    Sony Organises A PlayStation Event for June; A State of Play

    May 23, 2025
    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    Microsoft’s New AI features in Notepad, Paint, & Snipping Tool Test Trials

    May 23, 2025
    Bluesky Starts Confirming “Notable” Users

    Bluesky Starts Confirming “Notable” Users

    May 23, 2025
    Affiniti Raises $17M for AI-Powered Small Business Finance

    Affiniti Raises $17M for AI-Powered Small Business Finance

    May 22, 2025
    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    Absolute Zero’ AI Achieves Top-Level Reasoning Without Human Data

    May 22, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok