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Mastercard’s Breakthrough: Web3 Alliance with MoonPay

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In a strategic move towards the burgeoning world of cryptocurrency and Web3, global payment giant Mastercard has entered into a partnership with crypto payment platform MoonPay. The collaboration, announced on October 25, aims to explore the potential of Web3 tools in enhancing experiential marketing and creating innovative ways to connect with the firm’s consumer base.

The announcement came during the Money20/20 event in Las Vegas, where MoonPay’s enterprise president, Keith Grossman, and Mastercard’s chief marketing and communications officer, Raja Rajamannar, unveiled their ambitious plans. This partnership opens a realm of possibilities, with the firm set to harness MoonPay’s complete Web3 portfolio, from authentication to minting and ETHPass, to fuel their experiential marketing initiatives.

Source: MoonPay

MoonPay is not only focusing on enhancing consumer experiences but also prioritizing compliance and trust within the Web3 industry. The integration of the firm’s tools like “Click to Pay,” Mastercard Send, and Mastercard Crypto Credentials into MoonPay’s payment solutions will likely boost confidence and regulatory adherence within the crypto space.

Mastercard’s Crypto Integration

Mastercard’s foray into the blockchain and cryptocurrency industry is not new. In recent years, the company has been proactive in adding crypto-related products to its platform. In 2022, it launched a program enabling banks to offer crypto trading capabilities in collaboration with Paxos, a significant step towards mainstream crypto adoption. Additionally, partnerships with Coinbase and MoonPay have paved the way for the firm to delve into the realm of nonfungible tokens and Web3.

However, it is noteworthy that at the time of writing, the firm had not officially announced this latest collaboration. Nevertheless, the partnership signifies a crucial step for Mastercard in keeping pace with the evolving financial landscape, where cryptocurrencies and Web3 technologies are becoming increasingly relevant.

This collaboration between Mastercard and MoonPay showcases a forward-looking approach to technology and consumer engagement. It underlines the importance of adapting to the changing financial landscape and exploring innovative ways to connect with consumers in the digital age. As the Web3 ecosystem continues to expand, this partnership might serve as a model for other financial institutions looking to explore the potential of blockchain and cryptocurrency in marketing and customer interaction.

Uniswap And MoonPay Partnership enables Crypto Purchase Using Debit/Credit Cards

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With the help of Moonpay, a fintech business, customers of Uniswap’s web app may now purchase cryptocurrencies using bank transfers, debit cards, and credit cards. The bank transfer option is being made available to customers in the majority of US states, Brazil, the UK, and the Single Euro Payments Area, or SEPA.

According to the Dec. 20 statement from Uniswap, customers will soon be able to quickly exchange cash for cryptocurrencies on the Ethereum mainnet, Polygon, Optimism, and Artibrum.

Because of its built-in user safety, self-custodial wallets, permissionless, immutable protocols, and transparent public ledger, Uniswap claims that decentralised exchanges (DEX) are a significantly safer alternative than centralised exchanges (CEX).

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Depending on the user’s location, Uniswap will initially support Dai DAI, Ether, USD Coin, Tether, Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH).

The company acknowledged that despite the dangers involved, customers still prefer CEXs and that the onboarding process for decentralised finance (DeFi) has been a significant barrier to adoption. With “no spread costs on USDC, lowest processing fees in the market, and rapid access,” the exchange anticipates that its most recent deployment will enhance the onboarding process.

Uniswap’s Uprise Amidst Other System Faliures

The news from Uniswap comes at a time when a number of centralized cryptocurrency systems have failed, the most recent of which was FTX.

On November 22, it was revealed that the decentralized exchange has faced criticism from several community members for revising its privacy policy to cover the gathering and storage of user data, which many felt went against the fundamental principles of cryptocurrency.

The exchange will gather data on user interactions with its service providers, information about user devices such browser information and operating systems, and publicly available blockchain data, according to the privacy policy, which was amended on November 17.

In other news, users can now trade nonfungible tokens, or NFTs, using the native protocol of decentralized exchange (DEX) Uniswap, according to a recent post from that day. The function, according to the decentralized exchange, would initially offer NFT collections for sale on websites such as OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.