PURCHASE, N.Y.—Mastercard said it has partnered with three digital asset platforms in Asia to issue payment cards that will allow consumers in the region to convert Bitcoin and other cryptocurrencies into fiat currencies.
Mastercard announced it’s joining with Hong Kong’s crypto finance firm Amber Group, Thailand’s crypto exchange Bitkub and Australian trading platform Coinjar, Forbes reported.
The partnership intends to introduce cryptocurrency-linked credit, debit and prepaid cards for both individuals and businesses across Asia Pacific, Forbes reported.
Cardholders will be able to instantly convert Bitcoin and other digital currencies into fiat currencies, which can then be spent online or offline with any of the merchants that accept Mastercard payments. The collaboration comes as interest in cryptocurrencies has soared to an all-time high in Asia Pacific, Forbes said.