Mastercard And Bakkt Team Up to Offer Cryptocurrency Solutions


Mastercard (NYSE: MA) and Bakkt (NYSE: BKKT) announced a partnership to enable merchants, banks and fintech companies in the U.S. to offer a broad set of cryptocurrency solutions and services.

Through the Mastercard network and Bakkt’s digital asset platform, Mastercard partners will be able to offer cryptocurrency solutions. These include the ability for consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards.

Mastercard will also integrate crypto into its loyalty solutions, enabling its partners to offer cryptocurrency as rewards and create fungibility between loyalty points and other digital assets. This means that consumers can earn and spend rewards in cryptocurrency instead of traditional loyalty points and convert their crypto holdings to pay for purchases.

This partnership builds on both companies’ commitment to the crypto ecosystem. Bakkt publicly listed on the NYSE under the ticker BKKT on October 18, 2021, while Mastercard continues to invest in the digital asset space through several initiatives. This includes the acquisition of CipherTrace, partnerships with crypto players, the creation of new platforms to test and support central bank digital currencies, and more.