Global: Mastercard Expands Engage Partner Network to Drive Blockchain Innovation

Mastercard is taking steps to support the growing adoption of cryptocurrencies and blockchain technology by expanding its global Engage partner network. This expansion aims to facilitate the swift launch and scalability of products that power the Web3 economy, enabling businesses to leverage the benefits of these emerging payment technologies.

Through Mastercard Engage, partners gain access to the company’s global network, expertise, technology, and resources, accelerating the time to market for innovative products. In the past year alone, more than 150 Engage partners utilized Mastercard’s products and services to deploy groundbreaking solutions on over 500 million accounts.

The expanded Engage partner network will specifically focus on digital assets, identifying partners who can contribute to the introduction of new cryptocurrency card programs and facilitate crypto-to-fiat conversions. This initiative aims to enhance access and participation across the entire crypto value chain. The benefits of Mastercard Engage can be categorized into two main areas:

1. Become a partner: Issuers or BIN sponsors seeking to launch new crypto card programs and payment ecosystem enablers looking to scale crypto payment solutions can collaborate with Mastercard. This includes Virtual Asset Service Providers (VASPs), processors, and other stakeholders.
2. Find a partner: Companies and digital asset innovators searching for suitable partners to launch and scale their offerings can leverage Mastercard’s Engage network.

Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard, expressed the company’s commitment to co-innovating with the industry to enable broader access to crypto and blockchain technology. Mastercard believes this will unlock new possibilities and provide greater choice in payments and commerce while maintaining the safety and security associated with the Mastercard brand.

Mastercard Engage has welcomed several enablement partners dedicated to driving blockchain innovation. These partners include:

• Baanx (EU): Offers seamless storage and spending of cryptocurrencies across over 100 million acceptance locations globally.
• Credencial Payments (LAC): Integrates payment methods with digital onboarding functionalities, focusing on providing solutions for merchants and consumers.
• Episode Six (AP, EU, NAM): Provides enterprise-grade payment processing and global digital ledger infrastructure.
• Immersve (AP): Supports both centralized and decentralized payment experiences through an issuing-as-a-service platform.
• Monavate (EU): Enhances payment experiences worldwide through its smarter, faster, and simpler card management platform.
• Moorwand (EU): Offers BIN sponsorship, digital banking, and compliance services to banks, fintechs, and payment companies across the UK and EEA.
• PayCaddy (LAC): Democratizes access to cutting-edge financial technology through a Banking-as-a-Service (BaaS) platform, enabling diverse organizations to launch digital banking and card products efficiently.
• Paymentology (AP, LAC, MEA): Enables rapid issuance and processing of cards for banks, digital banks, and fintechs worldwide.
• Pomelo (LAC): Facilitates the rapid launch and scaling of fintech businesses in Latin America within weeks.
• Swap (LAC): Provides comprehensive financial solutions, including regulatory support, banking services, card issuing, and embossing, for fintechs, financial institutions, and digital banks.
• Unlimit (EU): Offers a wide range of financial services, including payment processing, banking as a service (BaaS), and an on-ramp fiat solution for crypto, DeFi, and GameFi.

By collaborating with these enablement partners, Mastercard aims to empower participants within the digital asset ecosystem and beyond, enabling them to achieve their ambitions at scale while benefiting from the trust and security associated with the Mastercard brand.