Let's go talk about Mastercard, but this time with a look at the cryptocurrency. The last time we talked about the payment giant it was with reference to Touch Card, the contactless card also for the blind. The first time we dealt with cryptocurrencies was when PayPal seemed to want to work on it. Today we combine the two because it seems that Mastercard has officially set foot in the crypto world, also with the help of Nexus. Let's go see the details.
A revolutionary project set up by Mastercard and Nexo: the first payment card that supports cryptocurrencies as a guarantee
In accordance to announced by Nexo, today a partnership with the global payment company Mastercard is born. As a result of this collaboration, the first payment card in the world with support for cryptocurrencies. In the initial stage, such payment cards will only be available in some European countries. Specifically, only residents of the European Economic Area (EEA) can order a Nexo Card.
Mastercard provides the payment infrastructure for using these cards. The cardholder will have the right to use its cryptocurrencies as collateral and spend up to 90% of the fiat value of its cryptocurrencies, which is a fiat currency that derives its value not from a physical asset or commodity, but from the issuing government. When the volume of Nexo Card transactions exceeds € 20.000 per month, no commission is charged by the cardholder.
Furthermore, all transactions lead to the cardholder a 2% cashback in Bitcoin or Nexo token (which can be base, silver, gold or platium). The last very interesting feature is the one related to the payment method. Mastercard can be linked to Apple Pay and Google Pay and used in over 92 million Mastercard-enabled locations around the world.
Through | Reuters, Cryptocurrency.it, Binance
