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Mastercard Partners With BitOasis To Launch Crypto Cards

BitOasis, a cryptocurrency exchange, has partnered with Mastercard to provide users with crypto-linked payment cards.

According to a company release, BitOasis will provide real and virtual cards connected to customers’ exchange accounts. The first cards will be available in early 2023.

They plan to launch payment cards that are linked to cryptocurrency. With their goods, the two businesses want to target customers in the Middle East and North Africa who will be able to use crypto cards at PoS or make online purchases.

According to the source, Mastercard will include two features to safeguard users: dispute resolution and refund generation. According to Reuters, crypto payments are now seen to be inconvenient, hence retailers seldom accept Bitcoin for their goods. If they do, they convert the cryptocurrency and continue to take fiat money.

Mastercard’s newest crypto push comes after the company joined with crypto lender Nexo in April to create a similar Bitcoin-backed payment card. The Nexo card is linked to a crypto-backed credit line, allowing investors to spend up to 90% of their crypto assets’ fiat value.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.