Payments giant Mastercard has just announced it intends to launch Bitcoin-linked debit, credit and prepaid cards in Asia Pacific.
They will allow businesses and consumers to pay for purchases with cryptocurrencies. The partners in the Mastercard Crypto Card initiative are Hong Kong startup Aber Group and Australia and Thailand-based crypto exchanges CoinJar and Bitkub, respectively.
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As reported by the company, the aim of the program is to reduce barriers to entry.
The cryptocurrency will be instantly converted to fiat money at the time of purchase.
Rama Sridhar, Executive Vice President, Digital & Emerging Partnerships and New Payment Flows, Asia Pacific, said:
"As interest and attention surges from all quarters, their real-world applications are now emerging beyond the speculative. We will provide more payment options and choices."