The people of the Middle East and North Africa will soon have a new option to pay with cryptocurrencies at millions of merchants which acceptmaster card.
The exchange of digital assets with headquarters in Dubai,BitOasis Tuesday announced a new strategic alliance with the giant of payments,master card, for the launch of cards linked to the new asset class.
According to anofficial press release the exchange will offer physical cards and virtual linked to the accounts.The customers ofBitOasiswill be able to convert their holdings cryptocurrencies to fiat currency, which will allow the consumerto purchase and pay easily in over 90 million establishmentsworldwide commercial, according to the publication.
Meanwhile, the merchants do not need to worry about the volatility of the cryptocurrencies since the payments will be settled in fiat currency, added to the exchange.Founded in 2015,BitOasisis registered in the United Arab Emirates, but has a presence that is wider in the Middle East and North Africa (MENA).
BitOasiswill offer new card crypto
Despite the dizzying price decline of cryptocurrencies this year, the appetite of consumers around the world to access the asset class does not seem to have diminished; just the opposite. BitOasis CEO and co-founder Ola Doudin cited recent research that found that 47% of the Middle Eastern population believe cryptocurrencies are the future of money in the statement to emphasize this growing demand.
We continue to see sustained demand among our clients for cryptocurrencies to be integrated and relevant to their daily lives.
" Changes in consumer demand, as they seek new, fast and flexible digital experiences, are driving a surge in the adoption of emerging payment technologies, "added Amnah Ajmal, Executive Vice President of Market Development for MasterCard .
Doudin pointed out that the partnership with the reputable payment firm helps BitOasis in its mission to “enable a new digital financial system that is transparent, inclusive, regulated and relevant on a daily basis, while providing even greater security for payments with cryptocurrencies”.
The new product is expected to be launched in 2023, offering users in the region an alternative for the daily use of cryptocurrencies as a means of payment in both physical and online stores, according to the statement.
Mastercard strives to boost crypto payments
The deal represents Mastercard 's latest effort to push into the digital currency space. This year, the payment giant and well-known credit card issuer has been working to carve out its place in the crypto payments industry. The company has already partnered with other cryptocurrency exchanges, including Gemini and Binance , to offer similar products in the US and Argentina.
In addition, I've made other alliances to integrate digital currencies into their global network of payments and making it easier for banks, card issuers and millions of merchants to take advantage of such assets for the payment of day - today. Among them, was announced last week to new agreement with the platform cryptocurrencies, which is designed to facilitate the adoption banks.
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