Chainlink, a decentralized oracle network, has announced a significant partnership with payments giant Mastercard. This collaboration aims to expand access to cryptocurrencies for over three billion Mastercard users.
Goals of the Partnership
According to the announcement, the partnership between Chainlink and Mastercard is focused on providing secure access to crypto assets using traditional bank cards. The partnership will utilize Chainlink's interoperability infrastructure to enable cardholders to directly convert fiat to crypto through smart contracts. Such collaboration may positively impact LINK's price as investor interest grows.
Supporting Players
Critical players supporting the Mastercard-Chainlink system include Zerohash, Shift4 Payments, Swapper Finance, and XSwap. These platforms work together to deliver a seamless user experience from fiat onboarding to crypto swaps. Zerohash provides compliance and custody services, while Shift4 Payments handles transaction processing.
Industry Opinions
Chainlink co-founder Sergey Nazarov highlighted the significance of the partnership with Mastercard, calling it an important step for providing more people access to cryptocurrencies. He noted that over three billion cardholders now have pathways into decentralized exchanges. Meanwhile, industry leaders from Zerohash and Uniswap Labs have expressed optimism about Chainlink's influence on market development.
The partnership between Chainlink and Mastercard may mark a turning point in the cryptocurrency industry, opening up new access opportunities for users worldwide.
