The exchange’s customers will be able to use the consumer protection provisions when using cards

BitOasis and Mastercard to issue a crypto card for residents in the Middle East and North Africa

26.10.2022 - 07:30

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1 min

What’s new? Mastercard has entered into a strategic partnership with Dubai-based cryptocurrency exchange BitOasis. The parties announced the launch of a crypto payment card for customers living in the Middle East and North Africa. The first physical and virtual cards will appear in 2023 and will be linked to users’ exchange accounts on BitOasis, according to the exchange’s official blog.

News on the exchange’s blog

What else is known about the card? According to representatives of BitOasis, customers will be able to make payments in fiat currencies and benefit from provisions on consumer protection, dispute resolution, or refunds, which crypto payments do not currently fall under. Crypto cards will be available to customers residing in the MENA (Middle East and North Africa) region.

BitOasis is a licensed cryptocurrency exchange headquartered in the UAE. It was founded in 2015 and serves retail and institutional clients from the MENA region. Investors of the exchange include such companies and funds as Wamda, Jump Capital, Pantera Capital, Global Founders Capital, Digital Currency Group, NXMH, and Alameda Research.

Earlier it was reported that Mastercard in cooperation with crypto platform Paxos will launch a program that will allow financial institutions to offer digital asset trading service. Mastercard will act as a “bridge” between Paxos and banks and will handle regulatory compliance and security issues.

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