Mastercard has been making immense news in the crypto-verse. The payments platform continued to embrace cryptocurrencies despite the market’s steep fall. While the platform has made an array of advancements in the crypto-verse, another feather was added to its cap.
In a recent announcement, an Australian cryptocurrency exchange, CoinJar revealed that it had joined hands with Mastercard. This partnership will elevate the exchange’s CoinJar Card as it would allow users to carry out crypto purchases at places that accept Mastercard.
Considering the payments giant’s immaculate user base, this move would be great for the crypto industry as it would boost adoption.
Mastercard and CoinJar to ramp up crypto-adoption
Elaborating about its latest association with Mastercard, CoinJar in its latest blog post pointed out that users would be able to avail this service by either physical or digital cards. Along with this, an Apple Pay and Google Pay integration would also be made available.
Soon after a user initiates a payment in crypto, CoinJar would reportedly convert the desired crypto asset into Australia’s fiat currency before the transaction is carried out. A total of 30 cryptocurrencies are supported by the CoinJar Card and this list includes, Bitcoin [BTC], Ethereum [ETH], etc.
The blog post further read,
“CoinJar Card allows you to use the cryptocurrency in your CoinJar to make purchases, wherever Mastercard is accepted. All you need to do is choose which crypto you want to spend and it’ll be automatically converted to Australian dollars when you make a transaction – no need to preload. […] With full digital wallet support, you can spend your crypto instantly and securely with the device in your hand (or on your wrist).”
In addition to this, the platform pointed out that the activation of the card was free of cost. Furthermore, users would be able to enjoy CoinJar Rewards as it claims to have a low 1% transaction fee.