Mastercard Shifts ‘Engage’ Program Focus to Crypto

Mastercard expands Engage program to support the launch of cryptocurrency card programs, facilitating collaboration between traditional credit card industry and crypto companies.

Mastercard Engage expedites the process of launching crypto cards and enables crypto-to-fiat conversions by establishing partnerships with card issuers and BIN sponsors in the crypto industry.

Mastercard’s timely expansion of its Engage program aligns with the growing involvement of traditional finance firms in the digital assets sector, complementing its previous efforts.

Additionally, the company introduced a crypto credentials program in collaboration with CipherTrace, a blockchain analytics firm owned by Mastercard, to conduct anti-money laundering (AML) checks for cross-border transactions.

Raj Dhamodharan, Executive Vice President for Blockchain and Digital Assets at Mastercard, stated that the expanded Mastercard Engage network will enable various players in the digital asset ecosystem to pursue their ambitions on a large scale while benefiting from the safety and security associated with the Mastercard brand.

Mastercard announced a group of crypto payments firms joining the Engage program, including Baanx, Credencial Payments, Episode 6, Immersve, Monavate, Moorwand, PayCaddy, Paymentology, Pomelo, Swap, and Unlimit. 

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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