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Mastercard, a leading global payments and technology company, is revolutionizing the digital assets landscape by amplifying go-to-market opportunities for blockchain innovation. The company’s latest initiative, the expansion of Mastercard Engage, aims to escalate digital asset scalability and blockchain technology, fostering an enhanced response to the growing demand within the ecosystem.

Mastercard Engage, a groundbreaking platform, provides a collaborative arena that simplifies partner association with Mastercard and expedites product innovation by facilitating access to the company’s expertise, technology, resources, and comprehensive global network.

In 2022 alone, the platform has proven its might by enabling over 150 Engage partners to implement novel solutions across 500 million-plus accounts using Mastercard products and services.

Now, the initiative is set to redefine the digital asset and blockchain sectors in Latin America and the Caribbean (LAC), with companies like Credencial, PayCaddy, Paymentology, Pomelo, and Swap forming part of the dynamic Engage ecosystem.

The Engage program particularly focuses on digital assets, identifying and linking partners instrumental in launching novel crypto card programs and facilitating cryptocurrency to fiat currency conversion. It aims to ensure a broader outreach to players within the cryptocurrency value chain.

Mastercard Engage brings two critical elements to the table:

Empowering Business Partnerships: The program assists issuers or sponsors of BIN in launching innovative crypto card programs and payment ecosystem enablers in scaling crypto payment solutions with BIN sponsors, virtual asset service providers (VASP), and processors, among others.
Facilitating Right Partnerships: Mastercard Engage is a platform for companies or digital asset innovators seeking the right partners to launch and scale their offerings.

Mastercard’s commitment towards joint innovation in the industry to enhance crypto and blockchain access resonates with its philosophy. Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard, says, “This not only unlocks the potential but also offers a greater variety of payments and commerce.”

The Engage network will empower players across the ecosystem and beyond to realize their ambitions on a grand scale while assuring the security of the Mastercard brand.

A host of enabling partners have joined the Mastercard Engage initiative to foster blockchain innovation, including:

Baanx (EU): Offers services for storing and spending cryptocurrencies at over 100 million acceptance locations globally.
Payments Credential (LAC): Focuses on integrating payment methods with digital onboarding functionalities for merchants and consumers.
Episode Six (AP, EU, NAM): Provides enterprise-grade payment processing and digital ledger infrastructure globally.
Immersve (AP): Supports centralized and decentralized payment experiences through an issuance-as-a-service platform.
Monavate (EU): Develops a smarter, faster, and easier card management platform.
Moorwand (EU): Provides BIN sponsorship, digital banking, and compliance services for UK and EEA-based banks, fintechs, and payment companies.
PayCaddy (LAC): Enables tech and non-tech Latin American companies to launch card and digital banking products swiftly and efficiently.
Paymentology (AP, LAC, MEA): Allows banks, digital banks, and fintechs to issue and process cards quickly, anywhere in the world, at scale.
Grapefruit (LAC): Empowers companies to launch and scale their fintech businesses in Latin America within weeks.
Swap (LAC): Provides a comprehensive financial solution, from regulatory support and banking services to card issuance and stamping, for fintechs, financial institutions, and digital banks.
Unlimit (EU): Offers a broad portfolio of financial services, including payment processing, banking as a service (BaaS), and a ramp fiat solution for cryptocurrencies, DeFi, and GameFi.

Mastercard’s new initiative shows that the company is paving the way for more inclusive digital asset and blockchain technology adoption, making it easier for businesses worldwide to innovate and integrate these emerging technologies into their operations. As the Engage network expands, it’ll continue transforming how the world interacts with digital currencies and blockchain, reshaping the payments landscape.