Global payment giant Mastercard is continuing its exploration of cryptocurrency benefits through a new collaboration with the crypto payment platform MoonPay. MoonPay recently announced a partnership with Mastercard to jointly explore how Web3 tools can enhance experiential marketing and engage with Mastercard’s consumers.
During the Money20/20 event in Las Vegas, MoonPay’s enterprise president, Keith Grossman, and Mastercard’s chief marketing and communications officer, Raja Rajamannar, officially unveiled the collaboration. Mastercard intends to leverage MoonPay’s entire Web3 portfolio, including features like auth to minting and ETHPass. Additionally, they will work closely with the agency Otherlife for strategy, creative, and front-end development work for experiential initiatives.
Apart from enhancing Web3 consumer experiences, MoonPay will also integrate Mastercard products and solutions to boost compliance and trust within the Web3 industry. This integration will involve incorporating Mastercard’s tools such as “Click to Pay,” Mastercard Send, and Mastercard Crypto Credentials into MoonPay’s payment solutions.
Mastercard has been actively venturing into the blockchain and crypto industry, adding various industry products to its platform in recent years. In 2022, Mastercard initiated a program that enables banks to offer crypto trading capabilities to their customers in collaboration with Paxos. Furthermore, Mastercard partnered with Coinbase and MoonPay to facilitate its payments within the Web3 and nonfungible tokens ecosystem.
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