Key Takeaways
- Chainlink and Mastercard have partnered to allow nearly 3 billion cardholders to buy crypto assets directly on-chain.
- The integration uses Chainlink, Mastercard, zerohash, Swapper Finance, Shift4, and Uniswap to create a seamless fiat-to-crypto conversion system.
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Payments network giant Mastercard and decentralized oracle network Chainlink are teaming up to enable on-chain crypto purchases for nearly 3 billion Mastercard users through a secure fiat-to-crypto conversion system, the companies announced Tuesday.
Mastercard’s global cardholders can now buy crypto assets directly using their existing cards. The partnership seeks to close the gap between traditional finance and the onchain economy, offering a frictionless, compliant way for billions of Mastercard users to access decentralized finance directly through traditional payment methods.
The integration combines Chainlink’s interoperability infrastructure with Mastercard’s global payments network, working alongside zerohash, Swapper Finance, Shift4 Payments, and XSwap while utilizing the Uniswap protocol.
“This is the type of traditional finance and decentralized finance convergence that Chainlink was built to make possible,” said Sergey Nazarov, Co-Founder of Chainlink. “I’m excited about Chainlink’s ability to enable this critical connection between the traditional payments world and the over three billion cardholders in the Mastercard user base, directly into the next generation trading environments of onchain decentralized exchanges,”
The system relies on zerohash for compliance, custody, and transaction infrastructure, while Shift4 handles card processing. XSwap executes on-chain swaps by aggregating liquidity from decentralized exchanges such as Uniswap.
Raj Dhamodharan, executive vice president of Blockchain & Digital Assets at Mastercard, said that Mastercard is committed to using its global payments infrastructure and experience to help connect onchain activity with the traditional financial world, reinforcing the company’s role as a bridge between digital and conventional commerce.
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