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Mastercard’s New Partnership with Bakkt will Boost Crypto Adoption

Hassan Mehmood

ByHassan Mehmood

Nov 4, 2021

Bitcoin for several days has now been in tricky waters. At some instances, the price only seems to go up, and its value increases by the second but then at some instances, Bitcoin seems to be breaking once again and retreating to a lower price range. This dance has continued until Mastercard announced very tempting news. The payment processor has initiated a very elaborative plan to enable crypto adoption through banks; due to this reason, bitcoin’s price has taken a hitch and is now over the charts.

Bakkt is the very company to which Mastercard will tether for the sake of allowing the merchants to be able to integrate crypto solutions for their companies and systems. This is indeed a very positive step towards crypto adoption and making the banks vouch for digital assets. If this partnership continues and indeed goes through, then all major banks on a global scale would have to comply with Bitcoin because of the reason that Mastercard is used and integrated by all of the major banks around the globe.

Crypto Industry Welcomes Mastercard’s New Partnership

Due to this very development, Bitcoin has seen a steady increase by a factor of 4% and is currently trading at about $63K. During the last weekend, Bitcoin once again dropped back to $60K and would have continued down the hitch if not for this amazing piece of news which has come forward like a knight in shining armor to rescue the flagship cryptocurrency. Bitcoin also did see a very promising increase above its all-time high at $66K when the U.S Securities and Exchange Commission approved the first Bitcoin ETF futures.

Those clients who would sign up with this very special program presented by Mastercard will be able to buy, hold and sell digital assets through their custodial wallets by Bakkt. Mastercard says that they want their clients to be able to feel at ease with Bitcoin and to be able to incorporate the cryptocurrency with whatever projects they are currently working on. There shouldn’t be any barriers when it comes to adopting the blockchain technology and Mastercard through third-party wallet providers making sure of it for its customers.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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