UAE-based cryptocurrency trading platform partners with Mastercard to launch crypto-linked cards

BitOasis, a UAE-based cryptocurrency platform for the Middle East & North Africa (MENA), has partnered with Mastercard to launch a series of crypto card programmes in the region that will facilitate day-to-day usage of cryptocurrencies at points of sale and across e-commerce platforms.

BitOasis is a platform that provides a secure and regulated infrastructure for cryptocurrency trading in the MENA region. Established in 2015, it is now the largest cryptocurrency platform in the region.

This new partnership will allow BitOasis customers to link their crypto wallet balances to physical or virtual cards and make fiat payments across 90 million global locations using their BitOasis Mastercard Crypto Card. The new payment method will accelerate crypto adoption in the region by enabling customers to make payments across Mastercard’s network.

The acceptance of the crypto card option continues to grow globally. In a report by the 2022 Mastercard New Payments Index, it said that 29% of respondents globally hold cryptocurrency as an investment, with another 65% indicating a preference for crypto-related services to be provided by their current trusted financial institution.

This type of partnership in the region sets a pace for the adoption of the new payment technology in other regions. Providing businesses and customers a safe and secure environment for seamless e-commerce transactions with crypto and fiat currencies.