Mastercard Eyes Web3 Partnerships with Firms Like MetaMask and Ledger

Mastercard is also diving into multiple crypto-centric projects, encompassing solutions like the Mastercard Multi-Token Network, Crypto Credential, CBDC Partner Program, and initiatives that interlink Web2 with Web3 tech.

Following the trend of major credit card networks delving into the crypto sphere, Visa, another significant entity, recently reasserted its dedication to crypto. This commitment came in the face of rumors suggesting Visa’s possible retreat from its crypto endeavors due to market unpredictability. Visa’s ventures into crypto include a pilot on Ethereum, showcasing how on-chain gas fees can be directly settled in traditional currency via Visa card transactions.

Moving forward, according to CoinDesk, Mastercard’s strategy includes the release of franchise guidelines. These standards will focus on consumer safety, competitive pricing, and transaction surveillance.

If these standards receive approval, Mastercard has plans to roll out a card, with the European Union or the United Kingdom as potential starting points. The overarching aspiration is to grant users a hassle-free and tax-advantageous means to execute transactions without necessitating any pre-funding or spending of their crypto reserves.