The payments firm added that the new initiative aimed to create a framework for collaboration across the ecosystem as blockchain-based payment technology continues to mature.
- Mastercard launched a Crypto Partner Program with more than 85 companies, including Binance, Circle, Gemini, Paxos, Ripple, PayPal, Polygon, and Solana.
- The initiative focuses on real-world uses such as cross-border remittances, business payouts, and settlements across Mastercard’s global network.
- Mastercard began forming official relationships with cryptocurrency startups in 2019.
As traditional payment networks deepen their push into digital assets, Mastercard launched a Crypto Partner Program that brings together more than 85 crypto companies, payment providers, and financial institutions.
Mastercard (MA) announced on Wednesday that the initiative included partners such as Binance (BNB), Circle (CRCL), Gemini (GEMI), Paxos (PAX), Ripple (XRP), PayPal (PYPL), Polygon (POL), and Solana (SOL), and will focus on real-world applications, including cross-border remittances, business payouts, and settlement infrastructure across its network operating in more than 200 countries.
Framework For Collaboration
Mastercard noted that digital assets were moving into a new stage of adoption. “Digital assets are entering a new phase. What once ran in parallel to existing financial systems is increasingly being applied to solve practical, real-world needs, often behind the scenes, from cross-border remittances to B2B money transfers,” the company said on X.
The payments firm added that the new initiative aimed to create a framework for collaboration across the ecosystem as blockchain-based payment technology continues to mature.
Mastercard was down roughly 1.8% following the launch of its crypto partner program during afternoon trading. On Stocktwits, retail sentiment around MA remained in ‘bearish’ territory, with ‘low’ chatter levels over the past day.
Industry Responses
To enable customers to spend digital assets using payment cards on its network, Mastercard began forming official relationships with cryptocurrency startups in 2019. Wirex, BitPay, and the Coinbase (COIN) Card, which offered debit cards linked to customers’ bitcoin accounts, were among the early partners.
Ripple stated that the industry-wide collaboration would be important as digital assets move toward practical use cases. “We see collaboration across the ecosystem as key to connecting on-chain innovation with trusted global payments infrastructure,” it added. Solana also confirmed its participation in the initiative. The network said it had joined Mastercard’s Crypto Partner Program.
Separately, Bloomberg ETF analyst James Seyffart shared data showing the largest institutional holders of spot Solana ETFs. The list included market makers and investment firms such as Electric Capital Partners, Goldman Sachs, SIG Holding, and Multicoin Capital. Goldman Sachs currently also holds the largest reported institutional position in XRP exchange-traded funds.
XRP traded at $1, down 3% over the past 24 hours, while Solana traded at $85, down over 2% over the same period.
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