Mastercard has also supported blockchain technology and cryptocurrency through its new programme aiming to increase its partner base for crypto payment cards.
Visa and Mastercard were both initially partners of the cryptocurrency project of Facebook, Libra. They both pulled away from it but have not stopped supporting the use cryptocurrencies.
In the end of May, Swiss decentralized finance (DeFi) platform Eidoo and Visa teamed up to bring new Visa crypto debit card for users in the United Kingdom and Europe. To bridge the gap between digital assets and traditional financing, the Swiss startup Eido a Visa crypto debit card with regulated stablecoins for crypto-fiat conversion.
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