Mastercard providers will be able to issue crypto debit and credit cards and offer crypto rewards thanks to a new partnership with digital assets exchange Bakkt announced today.
The new partnership will allow consumers to trade cryptocurrencies through Bakkt digital wallets, use branded crypto cards and spend card loyalty points in cryptocurrency instead of dollars or airline miles, for example. Users can also convert their crypto holdings to pay for purchases, according to Monday's announcement.
Current crypto rewards cards are limited mostly to offerings from cryptocurrency companies like Sofi, Blockfi and Gemini, though Venmo also allows user to buy crypto using loyalty points and cash-back rewards.