Credit card heavyweight Mastercard has taken a major initiative in the crypto market on November 9th, via disclosing details of crypto-linked payment cards catering to the Asia-Pacific area.

Specifically, Mastercard – via an alliance formed with three crypto service entities, including Thai-based Amber Group and Bitkub and Australia-headquartered CoinJar – will reportedly introduce crypto-funded payment cards, supporting the immediate conversion of clients’ digital assets to traditional money. 

“Rather than directly transferring cryptocurrencies to a merchant, cardholders will now be able to instantly convert their cryptocurrencies into a traditional fiat currency which can be spent everywhere Mastercard is accepted around the world, both online and offline,”

Regardless of confirmed details on the specific virtual coins that will be eligible for the new solution, the firm reportedly highlighted Bitcoin (BTC) and Ether (ETH) as two assets that are already in the list of payment measures at a few merchants, but still lacks adoption on a vast array. 

Per insights generated by Mastercard itself on the Asia-Pacific area, 45% of the individuals participating in the survey claimed that they are taking into consideration the prospect of using crypto in 2022. 

News of the crypto credit cards did not escape the Twitter ear for long, as influencers are touting the developing mainstream attraction of Bitcoin and other cryptocurrencies.

Mastercard has reportedly been establishing its footprints throughout the crypto sphere, probably in anticipation that digital assets will be able to achieve the momentum of becoming a means of payment. 

In October, the credit card heavyweight reportedly revealed plans to offer facilitating features for United States partners to offer crypto loyalty rewards.