Share this article
Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt
The tie-up will allow merchants and banks to build cryptocurrency into their offerings.
Updated May 11, 2023, 7:07 p.m. Published Oct 25, 2021, 9:32 p.m.
Mastercard and digital asset platform Bakkt are partnering to allow merchants and banks to build cryptocurrency into their offerings, the companies announced Monday. The two plan to also shake up the way consumers can collect loyalty rewards.
Mastercard said in a statement that consumers can buy, sell and hold digital assets through custodial wallets offered by Bakkt, and customers can collect and spend loyalty rewards through cryptocurrency.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The move brings the universe of cryptocurrency one step closer to bridging the gap with the traditional credit card payment industry. Bakkt is also appealing to younger consumers, according to its executive vice president of loyalty rewards and payments.
“As brands and merchants look to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to satisfy increasing demand for crypto, payment and rewards flexibility,” Bakkt’s Nancy Gordon said in a statement.
Bakkt began trading on the New York Stock Exchange under the ticker “BKKT” earlier this month after a SPAC deal. Shares surged in trading Monday, rising over 150% and crossed $26 per share.
Read more: Mastercard to Acquire Crypto Tracing Firm CipherTrace
Last week, American Express CEO Stephen Squeri said he doesn’t currently see crypto as a threat to traditional credit cards.
The Bakkt-Mastercard tie-up is a continuation of the card company’s recent foray into the crypto sector, following last month’s acquisition of compliance firm CipherTrace.
UPDATE (Oct. 25, 18:01 UTC): Adds Bakkt price move.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
