Purchase-headquartered Mastercard (NYSE:MA) is continuing its expansion into the cryptocurrency space with a new cryptocurrency debit card that will be issued in the U.K. and the European Union nations.
The cryptocurrency exchange Bybit is releasing a debit card issued by Moorwand and powered by the Mastercard network that will enable users to make purchases and ATM withdrawals. The card will support Bitcoin and other cryptocurrencies including Ethereum, Tether”™s USDT, USDr Coin and XRP, with more cryptocurrencies to be added in the near future.
According to the companies behind this debit, if a payment is requested the user”™s remaining balance in these digital assets is converted into either Euros or British Pounds, depending on the customer”™s location. The card can be used in any country within the Mastercard network.
“Mastercard enables customers, merchants, and businesses to move digital value ”” traditional or crypto ”” however they want, with the confidence that they are doing so safely and securely,” said Christian Rau, senior vice president of fintech and crypto for Mastercard Europe. “With launches like this, we”™re excited to continue to innovate in payments by making digital assets more accessible across the ecosystem.”
