Mastercard and Visa to develop crypto transactions technology in partnership with MinePlex

MinePlex Banking’s product will enable fast and secure digital transactions with bank cards, mobile applications, and cryptocurrencies

12.10.2022 - 06:45

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What’s new? Payment companies Visa and Mastercard, in partnership with MinePlex, a cryptocurrency startup, will develop a technology for conducting crypto transactions. According to MinePlex’s press release, the startup has already received $100 million in funding from investment firm GEM Digital Limited.

MinePlex’s press release

What will the funds be used for? The funding will be used to develop new banking technologies The company’s product, called MinePlex Banking, will allow millions of users to make fast and secure digital transactions with bank cards, mobile applications, and cryptocurrencies.

In partnership with Visa and Mastercard, CrossFi, an acquiring service will also be launched, that will allow accepting USDT, BTC, ETH, and TRON cryptocurrencies. Acquiring will be available online and through POS terminals based on the MinePlex processing platform. In addition, the native token PLEX is expected to be listed on various exchanges in the near future.

MinePlex is a new-generation crypto startup and digital ecosystem, founded in 2020 and headquartered in Singapore. The company has launched 8 products on the crypto market to address the most common problems faced by industry participants. As of October 12, 07:00 UTC, PLEX is trading at $0,3439, having gained 37,63% per day.

In October, crypto exchange FTX entered into a partnership with Visa. As part of the partnership, the exchange will issue Visa debit cards to FTX customers. The launch will take place in stages. The cards are already available in the US and will soon be launched in more than 40 countries in Latin America, Europe, and Asia. The next phase of implementation is expected in Europe by the end of 2022.

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