NEW YORK – In a move considered a breakthrough for the mass adoption of digital assets, global payment giant Mastercard and the decentralized oracle network Chainlink have announced a strategic partnership. This collaboration aims to enable over 3 billion Mastercard cardholders worldwide to purchase cryptocurrencies directly on the blockchain (on-chain).
This partnership effectively removes one of the biggest barriers for new users, which is the complicated process of converting fiat money (such as Dollars or Rupiah) into crypto assets. Later, users can use their Mastercard through supported applications or platforms to purchase crypto directly from decentralized exchanges (DEX), as easily as doing online shopping.
The infrastructure of Chainlink will serve as a secure bridge to verify and synchronize data between Mastercard's global payment systems and the blockchain network. This collaboration also involves other players in the Web3 industry such as ZeroHash for compliance and custody, as well as Swapper Finance as one of the first user platforms.
"We are opening up safe and innovative new ways to revolutionize on-chain trading and drive broader crypto adoption," said Raj Dhamodharan, Head of Crypto and Blockchain Division at Mastercard.
This monumental step by two giants in their respective fields is expected to be a strong catalyst for the growth of the Web3 ecosystem, welcoming a new wave of mainstream users into the digital economy.#Mastercard #Chairlink $LINK