Chainlink and Mastercard have linked their networks so that more than three billion Mastercard holders can buy cryptocurrencies directly on the channel.
The service folds several players in a single flow. Shift4 deals with the payment of the card, Zerohash Custodies Fiat Currency and provides crypto liquidity, while Xswap and Uniswap execute the final token swap on the decentralized markets.
Chainlink’s interoperability protocol covers these steps together, transmitting the transaction data between the card network and several blockchains, according to a shared ad with Coindesk.
Raj Dhamodharan, who directs the efforts of the Blockchain in Mastercard, said that the company wanted to “fill the gap between the trade transactions of Onchain and transactions outside the chain”.
The agreement helps to allow a “critical link between the world of traditional payments and the more than three billion card holders in the Mastercard user base”, according to the co-founder of Chainlink, Sergey Nazarov.
Mastercard slowly deepened in the cryptocurrency space. Last month, the company has teamed up with Moonpay to allow users to spend stablescoins at more than 150 million merchants worldwide. Likewise, in April, Kraken and Mastercard joined forces to introduce cryptocurrency flow cards.
Read more: Moonpay Mastercard’s launch crypto card, allowing users to make merchant payments with stablescoins
