With Mastercard, MetaMask Tests First Blockchain-Powered Payment Card
It would be “the first ever truly decentralized web3 payment solution,” allowing users to spend their crypto “on everyday purchases, everywhere cards are accepted,” according to marketing materials CoinDesk reviewed.
Crypto Payments Specialist Baanx Raises $20M Funding Round
The Series A investment round included Ledger, Tezos, Chiron and British Business Bank.
Mastercard’s Latest Crypto Loyalty Scheme Aims to Plug Google Pay Gaps
Mastercard is working with emerging markets-focused mobile payments app Swoo Pay to offer loyalty rewards in cryptocurrency.
Kazakhstan central bank reviews digital tenge pilot successes, next steps
The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come.
Mastercard launches generative AI chatbot to help you shop online
Digital personalization company Dynamic Yield by Mastercard was purchased from McDonalds in 2022.
Mastercard combats crypto fraud with latest AI integration
Mastercard announced it will integrate a new AI tool to detect and prevent fraud routed through cryptocurrency exchanges.
Mastercard Says Customers Are Too Comfortable With Today’s Money for Adoption of CBDCs: CNBC
The widespread use of central bank digital currencies (CBDCs) does not have enough justification at the moment as customers are so comfortable using today’s type of money, a senior Mastercard official has said.
Singapore startup dtcpay launches retail crypto payments system with Chinese partners
Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services.
Hi’s Mastercard Debit Card Adds Option to Spend Sandbox’s Token SAND
Cardholders of the hi Debit Mastercard, a partnership between crypto payments application hi and Mastercard, can now spend Metaverse platform Sandbox’s SAND token as a currency in eligible markets.
Mastercard Teams Up With MoonPay for Web3 Push
MoonPay will incorporate compliance-friendly Mastercard’s Crypto Credential system and integrate payments tech like Mastercard Send and Click to Pay, according to a blog post.
Mastercard Plans Web3 Collaborations With Self-Custody Wallet Firms
The payments processor is working with MetaMask and Ledger among others, according to a Web3 Workshop presentation.
Wirex taps ZK-proofs for non-custodial crypto debit card issuance
Wirex first launched its crypto debit card in 2015 and currently claims over six million customers.
Digital yuan app adds prepaid Mastercard Visa top-ups for tourists
The e-CNY app now allows tourists to top-up their wallets using Mastercard and Visa payments with a “recharge first and use later” option.
Visa And Mastercard Distancing Themselves From Binance Unlikely to Hurt the Crypto Exchange: Experts
The decision comes only weeks after Binance has been grappling with multiple legal challenges in the U.S.
MasterCard Axes Partnership With Binance Amid Regulatory Pressures
The crypto space is in pandemonium after MasterCard, a global payment service giant, announced the imminent termination of its services and alliance with the Binance crypto exchange.
Mastercard To Sever All Ties To Binance
Binance, the world’s largest cryptocurrency exchange by trading volume, is facing new challenges that could impact its reputation and growth rate. According to reports, Mastercard will discontinue its services on Binance, ending a years-old relationship and crypto cards programs starting Friday, September 22.
The reason for the abrupt termination has not been clarified by Mastercard. Some have attributed the news to the recent regulatory challenges and lawsuits Binance has been up against since this year.
Binance has refrained from making any comments regarding the reason for the suspension or who initiated the decision first. However, the crypto exchange has reassured users around the globe, stating that their Binance accounts are not affected by the news and they can continue their crypto transactions per usual.
“Binance accounts around the world are not affected. Where available, users can also shop with crypto and send crypto using Binance Pay, a contactless, borderless, and secure cryptocurrency payment technology designed by Binance,” Binance stated.
Mastercard and Binance have been working together as partners for about four years. Around August 2022, they both joined hands to initiate debit card programs for four major countries, allowing users in Brazil, Argentina, Colombia, and Bahrain to have access to cryptocurrency assets via their Mastercards linked to a cryptocurrency wallet.
Binance first partnered with Mastercard to launch crypto card payments in Brazil and Latin America at the beginning of 2023. The crypto exchange then made a similar announcement and launched prepaid crypto cards in Argentina in August 2022.
Financial Service Companies Break Away Following SEC Lawsuit
Binance has been in a legal battle with the United States Securities and Exchange Commission (SEC) since June when the SEC sued the crypto exchange for allegedly offering unregistered securities. The regulator further attempted to freeze all Binance assets stating that the crypto exchange was operating a “web of deception” and filing 13 charges against Binance.
Since then, Binance has been facing regulatory hurdles and industry challenges with many companies ending year-long partnerships and the price of BNB declining as a result.
The cryptocurrency exchange has also ended several projects in the course of a month and carried out massive layoffs following the SEC’s Lawsuits.
Recently, Binance shut down all cryptocurrency service operations on its official fiat-to-cryptocurrency payments provider, Binance Connect. The cryptocurrency exchange also discontinued its partnership with Checkout.com, a global payment service, after Checkout’s CEO terminated its contract this month.
Visa, another payment service giant, also cut ties with Binance in July and stopped supplying co-branded cards with Binance in Europe.
At the moment, it is unsure what the outcome of the SEC and Binance case would be. However, the results will undoubtedly impact the crypto industry and financial sector.
Mastercard and Binance end crypto card partnership in Latin America: Report
Visa also reportedly stopped issuing new co-branded cryptocurrency cards with Binance in Europe as of July.
Mastercard Partners With Ripple, But XRP Falls Below Pre-SEC Ruling Levels
In a significant move signaling the growing importance of Central Bank Digital Currencies (CBDCs) in global financial systems, Mastercard has announced a strategic partnership with several blockchain companies, including Ripple. Meanwhile, the XRP price took a nosedive in the past 24 hours, falling 14.3% amidst the marketwide downturn.
Ripple Partners With Mastercard
Unveiling its CBDC Partner Program, Mastercard emphasized its intent to work with leading figures in the CBDC ecosystem. The objective: to offer central banks a comprehensive understanding of CBDCs and their potential for redefining the future monetary systems. Ripple, recognized as a “CBDC platform” in Mastercard’s media release, stands at the forefront of this ambitious initiative.
“The inaugural set of partners includes CBDC platform Ripple, blockchain and Web3 software company Consensys, multi-CBDC and tokenized assets solution provider Fluency, digital identity technology provider Idemia, digital identity consultant Consult Hyperion, security technology group Giesecke+Devrient and digital asset operations platform Fireblocks,” Mastercard detailed in its announcement.
Ripple’s recent accomplishments, such as the partnership with the Republic of Palau, which resulted in the launch of a government-issued stablecoin, further reinforce its position as a key player in the CBDC arena. Mastercard highlighted this collaboration as a testimony to Ripple’s capabilities, stating, “Ripple’s launch of an inaugural government-issued national stablecoin in collaboration with the Republic of Palau, in addition to work on four CBDC pilots.”
Commenting on this collaboration, Mastercard’s CEO, Michael Miebach, stated, “We’re partnering with several central banks to help them research new digital currencies projects. It starts with understanding what they want to achieve with this technology, then building in transparency, consumer privacy and stability. We’re working toward those goals with a new #CBDC partner program, with Mastercard teaming up with a handful of key blockchain/Web3/payments players so we can learn from each other.”
In response, Antony Welfare, CBDC advisor at Ripple, shared his enthusiasm, noting, “Excited to be working with Mastercard on #DigitalCurrency and CBDC projects.”
Ripple’s involvement in the CBDC Partner Program is yet another testament to its growing influence in the domain. The company has already marked its presence with partnerships spanning nations like Montenegro, Hong Kong, Colombia, and Bhutan.
XRP Price Crashes To Pre-SEC Ruling Levels
Amid the downturn in the crypto market, the XRP price has fallen to a crucial level. XRP briefly fell to $0.4347, below the price level before the summary judgment in the legal battle between Ripple and the US Securities and Exchange Commission (SEC).
At the time of writing, XRP was trading at $0.5048, below the 200-day EMA at $0.5251. In a recovery rally, this should be the first target for XRP bulls before the 23.6% Fibonacci level at $0.5524 comes into focus. On the downside, XRP should defend yesterday’s low at $0.43 at all costs. Otherwise, a crash towards $0.41 could loom.
Ripple, Consensys participate in Mastercard program to promote CBDC innovation
The payment processor has enlisted a range of market players in its quest for innovation and efficiencies in a technology that 93% of central banks are investigating.
Mastercard Deepens Tie to CBDCs as Nations Mull Issuing Digital Currencies
Payments giant Mastercard has created a forum where crypto industry players can discuss and collaborate on central bank digital currencies, injecting its influential voice into the CBDC conversation as nations around the world consider whether to digitize their money.
