(Reuters) – Mastercard Inc said on Monday it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.
Mastercard said its partners can also allow customers earn and spend rewards in cryptocurrency instead of loyalty points.
The company had said in February https://www.reuters.com/article/us-crypto-currency-mastercard-idUSKBN2AA2WF it would begin offering support for some cryptocurrencies on its network this year.
Last year, rival Visa Inc had partnered https://www.reuters.com/article/us-blockfi-crypto-currency-visa-idUSKBN28B603 with cryptocurrency startup BlockFi to offer a credit card that lets users earn bitcoin on purchases.
Bitcoin, the world’s largest cryptocurrency, touched a record high of $67,016 last week after the debut of the first U.S. bitcoin futures-based exchange traded fund. It has more than doubled in value this year.
(Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)