Mastercard users can now buy crypto directly on blockchain using their cards through Swapper Finance and Chainlink.
Chainlink connects Mastercard payments to blockchain by verifying and syncing transaction data on Swapper Finance.
ZeroHash converts fiat to crypto while Shift4 and XSwap manage payments and swaps on the decentralized network.
Mastercard has partnered with Chainlink to allow over three billion cardholders to buy cryptocurrency directly on the blockchain. This is being made possible through Swapper Finance, a decentralized application powered by Chainlink’s secure infrastructure.
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The integration aims to reduce entry barriers for users unfamiliar with traditional crypto platforms.
How the System Works
The process begins when users connect their Mastercard debit or credit card to Swapper Finance’s interface. Shift4 Payments manages the card transactions, which are then converted from fiat to cryptocurrency. This conversion is handled by ZeroHash, a firm known for its compliance with digital asset regulations.
Once the conversion is complete, the crypto is processed on-chain through XSwap. This decentralized exchange is part of the Chainlink ecosystem and follows Chainlink’s data standards. Chainlink helps validate the transaction, synchronizing real-world data with smart contracts to ensure security.
Role of Chainlink and Supporting Firms
Chainlink provides the critical infrastructure to bridge Mastercard’s system with blockchain protocols. It verifies and updates transaction data, maintaining consistency between fiat payment systems and decentralized platforms. XSwap facilitates the actual crypto swaps on-chain, while Uniswap adds liquidity to support smooth trading.
ZeroHash ensures the fiat-to-crypto process meets legal standards. Shift4 handles the payment gateway, helping cardholders make purchases easily. These combined tools make it easier for non-crypto users to enter the digital asset market.
Platform Features and Benefits
The Swapper Finance app is non-custodial and leverages account abstraction to improve the user experience. It gives users full control without needing to understand complex crypto wallet mechanics. This simplifies crypto buying while keeping the process secure.
The solution targets people who have not previously interacted with Web3 technologies. It helps expand digital asset adoption by lowering technical barriers. Users can now convert local currency to crypto without leaving a familiar payment environment.
Industry Context and Market Impact
Mastercard has increased its focus on digital assets in recent years. In 2024, it launched crypto debit cards with Kraken and partnered with MetaMask. The company also reported that 30% of its 2024 transactions were tokenized. Meanwhile, competitors like Visa have formed partnerships with exchanges and stablecoin platforms to support crypto use.
This new collaboration shows a shift from just spending crypto to directly acquiring it through standard payment methods. The system helps bridge conventional finance and blockchain, aiming to reach users across more than 200 countries.
