Mastercard Aims to Simplify Crypto Transactions with New Initiatives

Staff Writer

Apr. 03, 2025

News

Mastercard is actively developing a blockchain-based network to facilitate seamless digital asset transactions among consumers, merchants, and financial institutions. This initiative seeks to bridge the gap between traditional finance and decentralized finance by leveraging Mastercard's extensive payment experience to become a key infrastructure provider in the digital asset space.

Since 2015, Mastercard has demonstrated a strong commitment to blockchain and digital asset technologies by applying for more than 250 related patents. (Image Source: Shutterstock)

Raj Dhamodharan, Mastercard’s Executive Vice President of Blockchain and Digital Assets, emphasized the company's goal: "We bring the scale and reach that we have to the space for the money to flow between the two worlds in a simple way." He envisions blockchain transactions becoming as straightforward and compliant as using Venmo or Zelle.

To achieve this, Mastercard is promoting its Multi-Token Network, a crypto-friendly platform designed to help banks develop new applications such as cross-border payments and tokenizing deposits and carbon credits. Collaborations with major banks like JPMorgan and Standard Chartered are integral to these efforts.

Mastercard has launched 100+ crypto-focused card programs worldwide, offering credit, prepaid, and rewards cards with crypto instead of cashback. (Image Source: Shutterstock)

For consumers, Mastercard has introduced over 100 crypto-oriented card programs globally, including credit, prepaid, and rewards cards that offer cryptocurrency rewards instead of traditional cashback. This initiative aims to enable the company's 3.5 billion cardholders to seamlessly transfer funds between fiat and cryptocurrencies, thereby enhancing capital flow and purchasing power in the crypto space.

Since 2015, Mastercard has demonstrated a strong commitment to blockchain and digital asset technologies by applying for more than 250 related patents. Additionally, through its startup accelerator program, the company has supported 43 blockchain startups since 2021, fostering innovation and development in the sector.

To further enhance trust and security in blockchain transactions, Mastercard has introduced the Crypto Credential service, which establishes standard verification criteria to ensure trusted interactions between consumers and businesses on blockchain networks.