Ebonex and Mastercard to launch a crypto-linked card

Australian cryptocurrency exchange platform, Ebonex, has collaborated with Mastercard to enable a new crypto-linked card.

The tie-up will give Ebonex customers the flexibility to spend their crypto holdings anywhere Mastercard is accepted by seamlessly converting it into the fiat currency the merchant accepts.

“As a new crypto exchange in Australia, we are privileged for Ebonex to attain a Principal Membership with Mastercard to self-issue crypto-linked Mastercard cards,” says Dong Hu, chairman and CEO of Ebonex.

“It is an amazing opportunity for us to extend our market reach and gain recognition in the payment and financial area. We will look to build on this collaboration and work closely with Mastercard to enable a crypto card product in the region.

“We plan to issue both virtual and physical cards to our customers and for the cards to reward users in the form of digital assets, NFTs, cashback, frequent flyer points, lounge access and subscriptions to online media and music.”

Hu adds that joining the Mastercard network will provide Ebonex with the opportunity to drive innovation in the crypto and payment space in Australia.

“We believe that the ability to collaborate directly with Mastercard, a global leader in payment technology, will foster the creation of solutions, which will enable customers, merchants and businesses to move digital assets through the global Mastercard payment network.

“This is an important milestone and we are looking forward to Ebonex becoming the bridge between traditional finance and cryptocurrency.”