Mastercard Expands ‘Engage’ Program to Facilitate Crypto Card Programs and Crypto-to-Fiat Conversion

Mastercard has announced the expansion of its Engage program, specifically focusing on bringing cryptocurrency card programs to the market. The program connects potential card issuers with partners who can provide the necessary technical expertise, leveraging Mastercard’s global network. By utilizing Engage, crypto firms can streamline the process of launching crypto cards and enable crypto-to-fiat conversion capabilities.

The timing of Mastercard’s initiative aligns with the increasing interest of traditional financial institutions in the digital assets space. The company’s efforts in the crypto industry also include a recent crypto credentials program for conducting anti-money laundering checks in cross-border transactions, powered by CipherTrace, a blockchain analytics firm owned by Mastercard. By expanding its Engage network, Mastercard aims to empower players in the digital asset ecosystem and beyond, providing scale and security under the trusted Mastercard brand.