In a world where the lines between traditional finance and digital assets are rapidly blurring, Mastercard is positioning itself at the forefront of this transformation.
Once known only for plastic cards and legacy payment systems, the global payment giant is now investing more in crypto-powered financial services, reflecting the fast-changing nature of how people transact globally.
With the rollout of Bitget Wallet’s zero-fee Mastercard crypto card in Brazil yesterday, the company is demonstrating a firm commitment to fostering digital currency adoption, especially in underserved markets.
This latest initiative follows a broader global strategy that seeks to integrate stablecoins, tokenisation, and decentralised finance (DeFi) infrastructure into Mastercard’s core services.
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Mastercard’s journey: From traditional finance to crypto disruption
Founded in 1966 as the Interbank Card Association, Mastercard began as a union of banks collaborating to create an alternative to cash and checks.
Through a long time of innovation, it became a leading player in global payment processing — a staple in consumer transactions across over 210 countries.
However, the rise of blockchain and cryptocurrencies stands as a challenge to the legacy systems Mastercard helped build. Instead of resisting the change, the payment giant chose to embrace it.
In the past few years, the company has built a robust roadmap to incorporate digital assets into its infrastructure.
Its actions are not just experimental — they are strategic. From developing tokenised transaction systems to supporting stablecoin payments and crypto-linked debit cards, Mastercard is actively shaping the future of money.
According to a June 2025 statement, Mastercard believes that “all e-commerce transactions within the European Union will be tokenised by 2030.”
This signals a shift from legacy rails to blockchain-based settlement, a transformative development in global finance.
The first crypto card rollouts
The payment company’s earliest crypto partnerships were mainly focused on Europe. For instance, its work with Crypto.com, Nexo, and BitPay laid the foundation for a series of crypto-linked debit cards available in the UK and selected EU countries.
These cards allowed users to spend Bitcoin (BTC), Ethereum (ETH), USDC, and other digital currencies at millions of merchants.
Crypto balances would be instantly converted into fiat currencies using Mastercard’s payment rails, thanks to its “Digital First” technology.
But Europe was only the beginning. In April 2025, they launched a comprehensive stablecoin payment suite through partnerships with major crypto players like MetaMask, Gemini, OKX, and Crypto.com.
This allowed users to send and settle payments in stablecoins such as USDC and USDT across different platforms and regions.
Meanwhile, on Wednesday, Bitget Wallet announced the launch of its zero-fee crypto Mastercard in Brazil — the first step in a broader expansion across Latin America.
The wallet app allows users to top up their card balances using USDC without platform fees and spend crypto via Apple Pay and Google Pay at over 150 million of their supported merchants globally.
The expansion is significant. Brazil, Argentina, Mexico, Colombia, Chile, Peru, and Guatemala are among the most active crypto markets in the world, fueled by currency instability, inflation, and a large underbanked population.
Data from Chainalysis’s 2024 Global Crypto Adoption Index placed Brazil, Argentina, and Mexico in the top 20 for grassroots crypto adoption worldwide.
In Brazil alone, crypto users grew by over 26 percent year-on-year, with more than 16 million people engaging in digital asset transactions.
Bitget Wallet’s CMO Jamie Elkaleh says, “Latin America is one of the world’s most dynamic crypto economies, making it a natural next step for our global expansion.”
Africa
Africa’s crypto growth story is no less compelling. Mastercard’s crypto card programs here focus less on trading and more on financial inclusion.
In South Africa, Mastercard is working with Paymentology to streamline crypto card issuance for local fintechs.
In Senegal, Benin, and Côte d’Ivoire, the company partnered with New Africa Technology (NAT) to deliver prepaid crypto cards tied to the “Flash” wallet.
More significantly, Mastercard’s partnership with Orange Money has allowed millions of users to access virtual and physical cards connected to their digital wallets in countries like Cameroon, Liberia, and Sierra Leone.
This is particularly impactful in regions where banking infrastructure is limited and mobile money is the dominant financial medium.
These efforts are tailored to local needs — combining traditional financial infrastructure with blockchain innovations to offer services like remittances, merchant payments, and savings in stablecoins.
Asia-Pacific and the Middle East
Mastercard’s strategy in the Asia-Pacific region is diverse. In Australia, it partnered with CoinJar to offer a crypto-linked card, while in Thailand, it joined forces with Bitkub.
These cards work like any Mastercard debit card — but the backend integrates with users’ crypto wallets for seamless conversion and payment.
In Hong Kong, the partnership with Amber Group further reinforces Mastercard’s interest in urban crypto-financial hubs.
Meanwhile, in the Middle East, Mastercard launched its “Crypto Credential” solution in the UAE and Bahrain — a tool designed to make cross-border blockchain transactions more secure and compliant.
Kazakhstan, too, joined the crypto credential program, expanding Mastercard’s footprint in Central Asia.
Crypto cards and stablecoins
Mastercard’s expansion isn’t just about branding — it’s building infrastructure. Its card programs offer a practical on-ramp to digital currency use, allowing people to spend crypto in real-world cases.
Most cards support stablecoins like USDC and USDT, which provide a reliable store of value over local currency volatility.
In places like Argentina or Nigeria, where inflation regularly exceeds 30 to 50 percent, this is more than convenience but financial survival.
Also notable is the ability to earn up to 10 percent yield on idle balances, as offered by Bitget Wallet.
This turns what was once a simple spending tool into a hybrid of saving, investing, and transacting in a single app.
Leading countries for now
When it comes to leadership in crypto card adoption, Brazil currently stands out in Latin America, while Nigeria, South Africa, and Kenya are leaders in Africa.
In Asia, robust card-based crypto solutions are already live in Thailand, Singapore, and Hong Kong.
As Mastercard plans further rollouts in Australia and New Zealand, the aim is clear: By working with regional partners, the company ensures compliance, cultural relevance, and local integration.
Moreover, its partnership with Chainlink to enable off-chain fiat payments for on-chain purchases could become a breakthrough in retail adoption — combining traditional bank accounts with blockchain-native e-commerce.
Finally, as 2030 approaches, the company’s prediction about tokenising all EU e-commerce transactions may extend globally.
Its infrastructure, partnerships, and adoption momentum indicate that the world is steadily moving toward blockchain-embedded financial systems.
And with players like Mastercard at the helm, crypto’s transition from speculation to utility is no longer a distant dream — it’s already underway.