In short: A new card backed by crypto-currencies
Mastercard has announced its partnership with Nexo, a leading crypto regulatory institution and DiPocket, a provider of integrated payment solutions for businesses. Their joint work focused on creating a new payment card backed by a crypto-currency credit line.
Called Nexo Card, this joint solution is a Mastercard-stamped card that allows you to spend using your digital assets as collateral to obtain a zero-interest loan on more than 92 million merchant sites worldwide.
DiPocket is the issuer of these cards in Europe. Mastercard manages the functionality of the Nexo Card, which is free of exchange fees for up to 20,000 euros of transactions per month. It is associated with a 2% cashback in crypto and is accessible in both physical and virtual formats (on Apple Pay and Google Pay).
An offer in tune with the times
Mastercard is continuing to roll out solutions tailored to the crypto market. The payment giant positioned itself back in January, presenting a payment card that allows the purchase of NFTs in partnership with Coinbase. The American marketplace dedicated to NFTs, OpenSea, has also just announced that it will now accept more traditional means of payment to enable Internet users to buy crypto-assets.