Mastercard seeks to simplify payments card offering for cryptocurrency companies

AlexandrBognat/iStock via Getty Images Mastercard (MA) is adjusting to its card program for cryptocurrency wallets and exchanges to make it easier for partners to convert cryptocurrency to traditional fiat currency. Along with its partners, Mastercard will test the new capability to allow more banks and crypto companies to offer a card option for customers that want to spend digital assets at merchants that accept Mastercard. Mastercard is working with Evolve Bank & Trust, Paxos Trust Company, a blockchain infrastructure and regulated stablecoin issuance platform, and Circle, a fintech firm and principal operator of USD Coin (USDC-USD), a dollar digital currency or stablecoin. The company is in talks with Evolve and Metropolitan Commercial Bank to issue cards, with Uphold and BitPay to provide real-time crypto wallet technology, and with i2c, Apto Payments, and Galileo Financial Technologies to support processing and program management. With the improvement to Mastercard's Crypto Card Program, Paxos