Reports have emerged that Mastercard is expanding it services in the realm of cryptocurrencies, allowing “partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.”
The company is also enabling partners to reward customers with cryptocurrencies in lieu of loyalty points. Last year, Visa launched a credit card which allowed cardholders to earn Bitcoin as a reward for making purchases.
“There are only a handful of naysayers left, and most of them have a vested interest in cryptocurrencies failing. But, time and again, new developments show that more and more institutions are embracing crypto. Momentum is moving in the direction of a bright future for digital assets, and most objective industry players want to be in on the action. This move by Mastercard only further goes to show that corporate executives believe that our financial future includes digital assets,” said Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges.
“Credit card companies work to make offers that are of interest to different niches of consumers. There are cards aimed at travelers, sports enthusiasts, and foodies. It is no wonder that they’re looking at ways to go after the ever-expanding universe of cryptocurrency investors. Cryptocurrencies have been mainstream for quite some time now. There’s a country which has officially made the move to make Bitcoin legal tender, and many others have been working diligently to develop and test, through their respective central banks, their own digital currencies.
Modulus is known throughout the financial technology segment as a leader in the development of ultra-high frequency trading systems and blockchain technologies. Modulus has provided its exchange solution to some of the industry’s most profitable digital asset exchanges, including a well-known multi-billion-dollar cryptocurrency exchange. Over the past twenty years, the company has built technology for the world’s most notable institutions, with a client list which includes NASA, NASDAQ, Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.
“The mainstream appeal is there, and it is only a matter of time until every retailer will be accepting cryptocurrencies for online purchases, as well as those made in brick-and-mortar locations. The people are demanding the ability to use their cryptocurrencies, and governments are intent on mainstreaming central bank-backed digital currencies. The time for retailers and major corporate interests, such as Mastercard, to adopt the new technologies is here. Digital assets will fundamentally change the way the world interacts with money,” said Gardner.