The 1inch Card will allow users to use their crypto for online and in-person purchases, and make cash withdrawals at supported ATMs through seamless crypto to fiat conversion.
It would be “the first ever truly decentralized web3 payment solution,” allowing users to spend their crypto “on everyday purchases, everywhere cards are accepted,” according to marketing materials CoinDesk reviewed.
Mastercard is working with emerging markets-focused mobile payments app Swoo Hisse to offer loyalty rewards in cryptocurrency.
MoonPay will incorporate compliance-friendly Mastercard’s Crypto Credential system and integrate payments tech like Mastercard Send and Click to Hisse, according to a blog post.
The payments processor is working with MetaMask and Ledger among others, according to a Web3 Workshop presentation.