Mastercard ( NYSE: MA ) is seeking to partner with more cryptocurrency-related firms to expand its crypto-linked payment cards program, despite increased regulatory scrutiny of the emerging industry, Reuters reported Friday, citing the company's head of crypto and blockchain. In recent years, the payments giant has teamed up with a slew of crypto firms as part of its broader effort to attract more customers by bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). In November 2021, for instance, MA partnered with crypto service providers in Asia Pacific to allow eligible consumers and businesses in the region to convert crypto into traditional currency using crypto-linked Mastercard ( MA ) credit, debit or pre-paid cards. Since then, though, the crypto industry has been stung by a raft of high-profile failures and increased regulatory scrutiny, fueling a notable market downturn. It was only two months ago when Mastercard ( MA ) and fellow payments firm Visa ( V ) reportedly paused creating new tie-ups with firms in the troubled space. Nonetheless, "we have dozens of partners around the world who offer crypto card programmes and they continue to expand," Raj Dhamodharan, head of crypto and blockchain at Mastercard, told Reuters on Thursday. "Providing access to crypto in a safe way is also part of our value proposition and we're continuing to do that." He stressed that Mastercard ( MA ) is fond of crypto's underlying blockchain technology, contending "we think more and more regulated money will come to this." More on Mastercard's foray into crypto Mastercard to roll out program that will help banks offer crypto trading Mastercard to roll out new crypto anti-fraud tool for banks Mastercard: Embracing Crypto But Insiders Are Selling
