The chief executive officer (CEO) of EMURGO, Phillip Pon, has hinted at a possible partnership with global payments giant Mastercard. In a post on X, Pon stated that EMURGO, the commercial arm of Cardano, has been actively engaging Mastercard’s Asia-Pacific (APAC) team.
Cardano enters Mastercard “qualification stage”
The goal is to convince Mastercard to include Cardano (ADA) in its partner network. This will ensure that the Cardano ecosystem is represented in Mastercard’s crypto initiatives.
For perspective, Mastercard previously launched a Global Crypto Partner Program with 85 initial partners. However, the broader Cardano ecosystem was not part of the maiden list. Now, EMURGO has intensified its efforts to convince the global payment giant to get Cardano onboard.
Notably, early partners include Binance, Ripple and PayPal. The payment giant aims to integrate blockchain payments into global commerce, making it easier to use crypto in everyday transactions. Users are likely to have the option of paying with XRP, RLUSD or BNB for goods and services.
According to Pon, EMURGO was previously in conversation with Mastercard until a leadership change slowed its progress. The contact person moved to Ernst & Young, a development that required EMURGO to commence another relationship-building process.
Pon has assured members of the Cardano community that Cardano has successfully reconnected with the successor at Mastercard.
In fact, significant progress was made as Cardano has entered the “qualification stage.” This signals that Cardano is now being evaluated for entry into Mastercard’s crypto program.
It is likely that the global payment giant will, at this stage, review Cardano’s technical capability, potential use cases with Mastercard’s payment network and overall alignment for the program. Although it is not yet approval, it shows progress in the ongoing conversations toward a Mastercard partnership.
Can community support strengthen Cardano’s case?
Pon has asked the Cardano community to show support and strengthen the ecosystem’s case.
The idea is to prove to Mastercard that Cardano has a large active global community. Hence, if Mastercard partners with the blockchain, there would be a strong demand for the payment giant’s services.
If Mastercard accepts Cardano into the program, it is possible that payments might be made using ADA. This implies more institutional exposure for Cardano and could trigger a value increase for the asset.
As of this writing, Cardano exchanges hands at $0.2378, which represents a 4.13% decline in the last 24 hours. ADA’s attempt to retest the $0.30 price level failed as Cardano slipped from a daily peak of $0.2514 to a low of $0.2362 before settling at the current price.
Source: https://u.today/cardano-executive-teases-potential-mastercard-partnership-details
