{"id":76610,"date":"2023-10-25T09:48:23","date_gmt":"2023-10-25T13:48:23","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/mastercard-explores-web3-alliances-metamask-and-ledger-included\/"},"modified":"2023-10-25T09:48:26","modified_gmt":"2023-10-25T13:48:26","slug":"mastercard-explores-web3-alliances-metamask-and-ledger-included","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76610","title":{"rendered":"Mastercard Explores Web3 Alliances: MetaMask and Ledger Included"},"content":{"rendered":"
\n

Global payments giant Mastercard is eyeing potential collaborations with self-custody wallet firms, such as MetaMask and Ledger, as part of its strategic push into the Web3 space.<\/p>\n

Citing an internal report from a Web3 strategy workshop, CoinDesk on Tuesday said Mastercard sees the integration of payments cards with self-custody wallets as a mutually beneficial endeavor by helping wallet providers increase their user base and user loyalty, while cardholders get to seamlessly spend their crypto.<\/p>\n

However, Mastercard acknowledged the resource-intensive nature of launching cards in new regions, which is where the firm, along with its issuance partners, can provide support.<\/p>\n

In addition to these initiatives, Mastercard is reportedly evaluating new models for global issuance that leverage stablecoins and \u201cinexpensive fast chains.\u201d<\/p>\n

The report did not clarify what is meant by \u201cinexpensive fast chains,\u201d but it is likely that it refers to the use of stablecoins on layer-2 solutions or on the base layer of other blockchains than Bitcoin (BTC) or Ethereum (ETH).<\/p>\n

Additionally, the firm is working on crypto-related projects through a number of new solutions, which include the Mastercard Multi-Token Network, Crypto Credential, CBDC Partner Program, and new card programs bridging Web2 and Web3 technologies.<\/p>\n

Credit card networks moving into crypto<\/h2>\n

Mastercard\u2019s move follows a broader trend of large credit card networks diving into the crypto landscape despite a challenging regulatory environment in many parts of the world.<\/p>\n

Visa, another major player, earlier this year reiterated its commitment to crypto, refuting recent reports that the payment giant plans to pause its crypto push due to uncertain market conditions.<\/p>\n

Among the crypto projects Visa has embarked on is a test using Ethereum intended to demonstrate how users can pay their on-chain gas fees directly in fiat money through Visa card payments.<\/p>\n

Mastercard to release franchise standards<\/h2>\n

According to CoinDesk\u2019s report, the next step Mastercard has planned for its venture into crypto is now to release a set of franchise standards, aimed at ensuring consumer protection, price competition, and transaction monitoring requirements.<\/p>\n

Should these standards be validated, Mastercard\u2019s will then launch a card targeting the European Union or the United Kingdom as its initial market, the report said.<\/p>\n

The overarching goal is reportedly to offer users a straightforward and tax-efficient solution, enabling seamless transactions without the need for pre-funding or spending of any crypto holdings.<\/p>\n

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Global payments giant Mastercard is eyeing potential collaborations with self-custody wallet firms, such as MetaMask and Ledger, as part of its strategic push into the Web3 space. Citing an internal report from a Web3 strategy workshop, CoinDesk on Tuesday said Mastercard sees the integration of payments cards with self-custody wallets as a mutually beneficial endeavor […]<\/p>\n","protected":false},"author":1,"featured_media":76611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-76610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nMastercard Explores Web3 Alliances: MetaMask and Ledger Included | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Global payments giant Mastercard is eyeing potential collaborations with self-custody wallet firms, such as MetaMask and Ledger, as part of its strategic\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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