Cryptocurrency platform Oubita signs an agreement with Mastercard to pay with cryptocurrencies. Now, users will be able to make payments with cryptocurrencies through Mastercard plastic in any store that accepts this payment network.
The alliance comes together with the launch of Oubita Card that is planned for the next european summer and the card will allow payments in cryptocurrencies in all establishments that accept Mastercard. So far, the platform will operate with USDT, ETH, BTC, XRP, LUNA and SOL.
Customers with access to this card, both virtual and physical, will be customers who have in their possession an Oubita NFT. To encourage users to invest in cryptocurrencies the company will release a collection of 10,000 digital assets that represent unique designs on the blockchain chain. ”With the launch of this card we respond to the demand that currently exists in society, providing security, transparency and innovation. With the Oubita Card, customers will be able to pay instantly with their crypto assets in authorized establishments since the currency will enter the Mastercard network as traditional fiduciary currency”, explained Sergio Gualix, CEO and Founder of Oubita.
“We are preparing for the future of cryptocurrencies and payments. Mastercard will begin supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very careful when deciding which assets to support, based on our principles on digital currencies, which are focused on consumer protection and regulatory compliance.”, expressed Mastercad about its new projects with cryptocurrency companies. On this, Mastercard again recognized that their network transforms crypto into fiat. “Our crypto partners convert digital assets into traditional currencies and then send them through the Mastercard network. Our shift to supporting digital assets directly will allow many more merchants to accept cryptocurrencies, an ability that is currently limited by methods unique to each digital asset.”, they commented through a post on their corporate blog. Currently, the payment company is investing in blockchain technology. According to your data, they have 89 blockchain patents and 285 pending blockchain applications globally.
This is not the first case of a card that is allied with crypto companies. The another big player in the world of payment services, VISA, is also betting on this vertical. Currently, they work with the company Crypto.com, Gemini, Coinbase, Wirex and Blockfi.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.