Mastercard (NYSE:MA) has confirmed plans to grow its global cryptocurrency payment card program through new partnerships with crypto firms.
“We have dozens of partners around the world who offer crypto card programs and they continue to expand,” said Raj Dhamodharan, Mastercard’s head of crypto and blockchain, in an interview with Reuters. “Providing access to crypto in a safe way is also part of our value proposition and we’re continuing to do that.”
The Purchase-headquartered Mastercard has partnerships with crypto exchanges including Binance, Nexo and Gemini that offer crypto-linked payment cards in some countries. However, this aspect of its business does not extend to the U.S. market, where federal regulators have targeted several crypto firms over compliance issues.
When asked if Mastercard would apply restrictions on the funds being transferred to crypto exchanges using its payments network, Dhamodharan replied, “We’re not here to pick winners. We’re not here to pick which transaction should happen or shouldn’t happen.”
Dhamodharan instead focused on the potential of blockchain technology in the payments process, adding, “We think more and more regulated money will come to this.”
