Cryptocurrency exchange BitOasis is partnering with Mastercard to offer customers crypto-linked payment cards.
BitOasis will offer physical and virtual cards linked to their exchange accounts, according to a statement from the firm. The first cards are set to launch in early 2023.
The crypto-linked payment cards will be available to BitOasis customers across the Middle East and North Africa (MENA). Final settlement will be fiat-based, per the announcement.
Today’s announcement represents Mastercard’s latest crypto play, having partnered with crypto lender Nexo in April to offer a similar crypto-backed payment card. The Nexo card is linked to a crypto-backed credit line, allowing investors to spend as much as 90% of the Fiat value of their crypto assets.
In 2021, the firm partnered with several firms across the Asia Pacific, including Amber Group, CoinJar, and Siam Commercial bank-owned exchange platform Bitkub to offer crypto-linked payment cards.
