Chainlink has announced a new partnership with Mastercard to make crypto purchases easier and safer for regular users, according to a July 24 rack.
With the cooperation, more than 3 billion MasterCard card holders worldwide can buy digital assets directly on-chain with Fiat. This is an important step forward in integrating traditional finances with blockchain infrastructure.
According to the statement, the integration is powered by the safe interoperability technology of Chainlink and the worldwide payment network of Mastercard. Together they eliminate long-term friction between FIAT payments and crypto access, making a seamless bridge for users new for the economy on the chain.
Raj Dhamodharan, Mastercard’s Executive Vice President for Blockchain and Digital Assets, said:
“There is no doubt about it -people want to be able to easily connect to the ecosystem of the digital assets, and vice versa. That is why we continue to use our proven expertise and global payment network to bridge the gap between Onchain -Trade and Offchain transactions.”
After the announcement, the native token of Chainlink, link, according to the press about 14% rose to $ 13.37 CryptoSlate facts.
Crypto infrastructure for payments on chains
The initiative is based on a group of integrated partners to offer a regulated and flexible transaction process.
One of the most important players is Zerohash, who supplies the core infrastructure that is needed to convert Fiat into Crypto, which offers compliance, custody and smart contract implementation. It also serves as the liquidity provider for these conversions.
Chainlink added that SHIFT4 PARTINGS processes map processing, while Swapper Finance feeds the front-end user interface.
In the meantime, the system also uses XSWAP, a decentralized exchange built on the interoperability standards of Chainlink. These sources of exchange of DEX protocols such as Uniswap to complete Swaps on-chain.
These collaborations enable users to perform Fiat-to-Crypto transactions in a safe and conforming environment, without leaving the user-friendly interface of traditional financial tools.
Co-founder Sergey Nazarov, Chainlink, described the initiative as a “critical step” to bring Defi closer to real users.
He noted that connecting the enormous user base of Mastercard with trade environments on chains is in accordance with Chainlink’s wider mission to bridge traditional and decentralized systems.
He added:
“This was a complex and multi -layered collaboration …[And] It is the type of traditional finances and decentralized financial convergence that Chainlink is built to make possible. “
