Last week we had the Bitcoin ETF, and this week we’ve got more news that’s almost as bullish.
First off, a big congratulation to all Solana and Shiba Inu hodlers out there, as the SOL and SHIB tokens are making new all time highs. With Bitcoin hitting $67k last week and Ethereum knocking up against its previous all time high, this October is proving to be a great time for crypto investors. As bullish as this price action has been, this next story could be bullish enough to take us even further up the price charts… Mastercard Drops a Bombshell According to a press release posted on their website, MasterCard is partnering with the crypto firm Bakkt to release an exciting new institutional product. Here’s how Mastercard describes the service. “Through the power of the Mastercard network and Bakkt’s trusted digital asset platform, Mastercard partners will be able to offer cryptocurrency solutions.
These include the ability for consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform.” To summarize: Mastercard is going to offer plug-and-play crypto solutions to all of their financial partners. For example, say you’re a large merchant who uses the Mastercard network, You’ll now be able to accept crypto payments and offer Bitcoin-rewards credit cards to your customers. Banks will also be able to offer crypto purchases and sales via the integration with Bakkt. Crypto debit cards are also on the table, if large institutions want to start offering that service.
Ultimately, by making it easy for banks and merchants to roll out crypto services, this new Mastercard-Bakkt deal could introduce tens of millions of people to crypto for the first time. This partnership is a huge step toward mass adoption, and the long term implications could be profound. At least, that’s what the market is telling us. BAKKT, which just went public via a SPAC, is up 233% in three days. If you can’t beat ‘em, join ‘em, and we’re happy that one of the world’s largest financial services companies is jumping on the crypto bandwagon.
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