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Leading companies in the Web2 field continue to make waves in the crypto market. Interest in the crypto sector, which has recently caught the attention of financial giants, is growing day by day. Another addition has been made to these partnerships, and the global payment giant Mastercard has reached an agreement with the crypto payment platform MoonPay. With this step, the company continues to play an active role in the cryptocurrency market.
MoonPay Announces Collaboration
MoonPay officially announced that it has established a partnership with Mastercard to explore how experiential marketing methods for Web3 applications can be improved or to discover new ways for Mastercard to connect with consumers. The announcement was made in a statement released by MoonPay on October 25.
MoonPay also shared in a post on X that the company’s CEO Keith Grossman and Mastercard’s Chief Marketing and Communications Officer Raja Rajamannar announced the collaboration at the Money20/20 event in Las Vegas. Grossman shared the following comment in a post on the professional social network LinkedIn:
“Mastercard will benefit from MoonPay’s entire Web3 portfolio, including ETHPass and more, and will work closely with our agency Otherlife for strategy, creative, and front-end development work for its experiential initiatives.”
Mastercard’s Crypto Journey
In addition to the new Web3 consumer products, Moonpay will also work to integrate Mastercard’s products and solutions to enhance compatibility and trust in the Web3 sector. MoonPay plans to include tools such as Mastercard Send and Mastercard Crypto Credentials, which are part of Mastercard’s Click to Pay methods, in its payment solutions. Adam Polansky, Mastercard’s Web3 marketing manager, commented on Grossman’s post:
“We are very grateful for the partnership and even more excited for what the future holds. Congratulations to the entire team.”
Mastercard has actively been exploring the blockchain and crypto industry by adding multiple industry products to its platform in recent years. In 2022, the company introduced a new service in collaboration with Paxos, allowing banks to offer crypto trading capabilities to their customers. Mastercard has also partnered with Coinbase and MoonPay to bring payment methods to Web3 and fungible tokens.
