Financial service provider Unbanked has partnered with MasterCard to help accelerate DeFi card issuance and crypto card adoption in Europe.

The two companies have already worked together to establish a presence in the UK and Europe. They have also forged relationships with various Web3 organizations to launch card programs designed to innovate in the payments space. Through this new initiative, Unbanked and Mastercard aim to support the issuance of cryptocurrency-powered card programs focused on simplicity, security, and consumer protection.

Unbanked previously worked with the Litecoin Foundation to launch the Litecoin Card for US residents. By partnering with Mastercard, the program will be available to members based in the UK and Europe with the aim of reaching up to 85% of the European population.

The Unbanked platform also supports Web3 businesses by helping them create personalized brand experiences for their user base. To be specific, the Unbanked API can help set up white-label card issuance programs, crypto wallets, and bank accounts, and connect them to a mobile or web interface. Additionally, the platform includes comprehensive compliance and validation systems that enable businesses to secure their users and payment systems.

More information about Unbanked and the Litecoin Foundation

Unbanked is a global blockchain-based fintech solution. The company believes that financial access and control is a basic human right, which is why it aims to connect traditional businesses, fintech and banking systems to blockchain infrastructure, expanding the usefulness of cryptocurrency for everyday investments and purchases.

Additionally, the company offers a selection of personalized financial products that enable the banked, unbanked and underbanked to benefit from unique financial experiences.

The Litecoin Foundation is a non-profit organization founded to promote Litecoin by developing and promoting blockchain technologies. Registered in Singapore, the Litecoin Foundation team consists of full-time support and volunteers from around the world.

Other Mastercard developments

In January 2023, digital lending platform for e-commerce ZoodPay has partnered with Mastercard to launch a prepaid virtual installment card in Eastern Europe, Middle East and Africa (EEMEA).

Through this partnership, the companies aim to expand financial and digital inclusion, seeking to help the underbanked population and those with no credit data or limited access to finance. Additionally, ZoodPay is also intended to serve as Mastercard’s lending partner for consumers and small and medium-sized enterprises (SMEs) in multiple locations.