The crypto-verse has spread to every corner of the globe. Because of the rising demand and broad acceptance of the business, governments have been driven to implement legislation controlling it. Bitcoin [BTC] has opted to expand its footprint in Australia by partnering with Mastercard.
According to a recent press release, Ebonex, an Australian cryptocurrency exchange, has partnered with Mastercard. This cooperation was created expressly to create a new crypto-linked card. As a result of this, Ebonex has been designated as Mastercard’s Principal Member for the issuing of the company’s crypto-funded payment cards.
Customers of the crypto exchange Ebonex will be able to use this card to spend their Bitcoin and other assets wherever Mastercard is accepted. According to reports, this method will not need the transfer of cryptocurrency into fiat currency.
Dong Hu, the CEO of the crypto business, said on the subject,
“Joining the Mastercard network will provide us the potential to foster innovation in the crypto and payment market in Australia via Ebonex.” We think that being able to engage directly with Mastercard, a worldwide payment technology leader, would encourage the development of solutions that will allow consumers, merchants, and enterprises to transfer digital assets over the global Mastercard payment network.”
Furthermore, Hu said that the company will issue both real and virtual cards. Digital assets, cashback, lounge access, NFTs, flyer miles, online media, and music subscriptions are among the benefits.
It should be mentioned that Mastercard just joined with Binance. Binance and the payments giant are planning to launch a prepaid card in Argentina. This is not the first time Mastercard has indicated interest in cryptocurrency. The company seemed to be gradually taking over the industry.
Bitcoin has a quiet profile.
Despite the weak market that dropped Bitcoin below $20K, its adoption rate did not decrease dramatically. While various venues continued to embrace the coin, its price provided little relief to its investors.