Enterprise companies like Mastercard, Visa, and PayPal have shown a lot of interest in the crypto card/reward space. With plans to partner with many blockchain companies, Visa intends to work with licensed and regulated digital currency platforms such as Coinbase and Fold and create a bridge between Visa’s network of 61 million global merchants and cryptocurrencies. With Wirecard out of the picture, Visa quickly jumped in to fill the void of the WirecardCrypto.com partnership and launched the MCO card via Crypto.com.
In an expansion of its current cryptocurrency program, Mastercard is making it easier for companies in the digital currency space to issue branded payment cards on Mastercard’s network. Wirex became the first native cryptocurrency platform to gain principal membership.
Soon, PayPal’s 265 million users will be able to buy bitcoin via the Venmo mobile payment app which could begin rolling out within the next 3 months.
The cryptocurrency industry has also been making progress in the issuance of cards as well. For example, Binance announced recently that its payment card, Binance card, will be coming to Europe in the next year. Developing interest in blockchain rewards, last year Nike patented CryptoKicks—tokenized shoes on the ethereum blockchain—and partnered with Plutus to offer cryptocurrency rewards on Nike product purchases