American international financial services giant Mastercard is expanding its cryptocurrency program called Mastercard Accelerate. The first participant in the program is the British startup Wirex. As a result of the partnership, Wirex cardholders will be able to convert digital asset funds into fiat and spend it with any merchant accepting Mastercard.
Mastercard invites other cryptocurrency projects to join the network. As such, the company is expanding its digital asset program to help implement and create innovative experiences in the crypto space. The so-called acceleration program provides support to partners with multiple components in the initial stages of development and use of their products. The company has also streamlined its partner product approval processes to reduce time to enter the market.
In addition, Mastercard has several requirements for its future partners in the digital asset industry: ensuring adequate consumer protection, ensuring a level playing field for all stakeholders, and operating in full compliance with all applicable laws and regulations.
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