Mastercard has launched a new program which seeks to enhance partnerships between established financial systems and digital asset markets.
The company announced the launch of the Mastercard Crypto Partner Program, a global initiative designed to bring together companies working across blockchain, payments and financial services.
Mastercard plans to establish a program that will include over 85 participants who will represent both crypto-native companies and payment service providers and financial institutions.
Focus on real-world digital asset use cases
Mastercard declared that digital assets have begun their second stage of development because financial services now use blockchain technology for their operational needs.
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The applications demonstrate their usefulness through international money transfers which need to make cross-border remittances and business-to-business payments more efficient.
The company established the new program to create collaborative opportunities between industry participants while the digital asset ecosystem continues to develop.
Industry collaboration and dialogue
Through the Crypto Partner Program, Mastercard plans to establish a platform which enables companies to discuss and cooperate on digital asset infrastructure and payment system developments.
The company said the initiative will help partners explore ways to develop solutions that support the evolving role of digital assets in global financial systems.
Mastercard stated that the program demonstrates how blockchain technology becomes more integrated with conventional financial services as the financial sector reaches its advanced development stage.
