Mastercard has recently teamed up with the crypto payment platform MoonPay to delve into the realm of Web3 services. This collaboration aims to enhance the experiential marketing approach and establish novel connections with Mastercard’s consumers.

The partnership, announced by MoonPay on October 25, will enable Mastercard to leverage MoonPay’s entire Web3 portfolio, which encompasses various tools such as authentication, minting, and ETHPass. Keith Grossman, MoonPay’s enterprise president, and Raja Rajamannar, Mastercard’s chief marketing and communications officer, unveiled this collaboration at Money20/20 in Las Vegas.

In addition to creating new Web3 consumer experiences, MoonPay will work towards integrating Mastercard’s products and solutions to ensure compliance and trust within the Web3 industry. Specifically, MoonPay plans to incorporate Mastercard’s tools like “Click to Pay,” Mastercard Send, and Mastercard Crypto Credentials into its payment solutions.

Adam Polansky, Mastercard’s Web3 marketing representative, expressed excitement about the partnership, while Elizabeth Taylor, Mastercard’s partnership executive, also conveyed enthusiasm for the forthcoming developments.

Although Mastercard had yet to make an official announcement at the time of writing, the company has been actively exploring the blockchain and crypto space, introducing various industry products onto its platform in recent years. Notably, in 2022, Mastercard initiated a program enabling banks to provide crypto trading capabilities to their customers in collaboration with Paxos. Additionally, Mastercard collaborated with Coinbase and MoonPay to integrate its payments into Web3 and non-fungible tokens (NFTs).