Mastercard expands crypto efforts in Asia-Pacific
Nuvei, a Canadian fintech company, partners with credit card giant Mastercard to offer instant payout capabilities in Asia-Pacific.
The partnership will allow Nuvei to offer instantaneous payout capabilities for their customers in the APAC region by using Mastercard Send.
Nuvei’s users will be able to process payouts, including business-to-consumer operations and funding transactions of 1.5 billion for credit, debit, and prepaid Mastercard cards.
Mastercard is one of the biggest credit card companies, established in 1966. In recent years, the company has been actively involved in the cryptocurrency industry. It has recognized the potential of digital assets and taken steps to integrate cryptocurrencies into its network.
In February 2021, Mastercard announced its intention to support a limited number of cryptocurrencies on its network. This move was seen as a significant step towards mainstream adoption of cryptocurrencies, as it would allow users to make payments using digital assets through their cards.
Mastercard has formed partnerships with various companies in the industry to strengthen its presence in the cryptocurrency sector further. It collaborated with Wirex, BitPay, LVL, and Bakkt to provide cryptocurrency-centric credit card benefits and services. These partnerships aim to make it easier for users to convert their digital assets into traditional currencies and use them for everyday transactions.
