Mastercard and Chainlink have announced a partnership to develop Swapper Finance, a new way to buy crypto directly from decentralised exchanges (DEXs) using any Mastercard.
Through instant crypto-to-fiat conversion, cardholders will be able to directly purchase cryptocurrency on Uniswap.
“This is what crypto looks like when it’s ready for the real world,” said Raj Dhamodharan, executive vice president, blockchain and digital assets at Mastercard.
“In coming together with Chainlink, we’re at the start of a very exciting journey to truly revolutionise the way we use cards for on-chain finance.
“Bringing our proven expertise and global payments network together with Chainlink and other industry leaders, we’re meaningfully accelerating the broader adoption of digital assets at scale – enabling billions of people to participate in the crypto economy with the cards in their wallets today,” Dhamodharan added.
The move marks the first time a major payments network has enabled direct-to-DEX swaps at scale, solving historical issues surrounding purchasing crypto on-chain such as on-ramp limitations and network complexity.
“This is the type of traditional finance and decentralised finance convergence that Chainlink was built to make possible,” said Sergey Nazarov, co-founder of Chainlink.
“I’m excited about Chainlink’s ability to enable this critical connection between the traditional payments world and more than 3.5 billion Mastercard cardholders, directly into the next generation trading environments of on-chain decentralised exchanges.”
