By Leandra Monteiro
- Crypto-Linked Card
- Digital assets
Ebang International Holdings Inc, a global blockchain technology company, announced that its Australian cryptocurrency exchange platform, Ebonex, has collaborated with Mastercard to enable a new crypto-linked card.
Ebonex allows customers to buy, sell and trade crypto assets. This collaboration with Mastercard will give Ebonex customers the flexibility to spend their crypto holdings anywhere Mastercard is accepted by seamlessly converting it into fiat currency the merchant accepts.
With this collaboration, Ebonex becomes the first Australian cryptocurrency exchange to be granted Mastercard’s Principal Member status for issuance of crypto-funded Mastercard payment cards.
Dong Hu, Chairman and Chief Executive Officer of the Company said, “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. 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 continued, “Joining the Mastercard network will provide us with the opportunity through Ebonex 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.”
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