The deal is composed of two parts, MTN Chief Executive Officer Ralph Mupita said on a video call on Monday. It consists of a commercial agreement on payments and remittance in which it is agreed that MTN will leverage Mastercard’s technology infrastructure as it looks to expand its fintech capabilities. The size of Mastercard’s stake in MTN’s fintech business will be determined once the deal is completed, Mupita revealed.

With Africa’s young and tech-savvy population making increasing use of their smartphones for a growing array of activities, a market opportunity has presented itself to Mastercard and MTN whereby the companies can provide this target market with new financial and banking services. Much of the fintech investments to date have been in mobile payment systems.

The post Mastercard to Buy $5.2 Billion Stake in MTN appeared first on theprimarymarket.com.

Mastercard has already teamed up with a number of industry giants, including the world’s leading crypto exchange Binance as well as other crypto exchanges like Nexo and Gemini. As part of the collaboration, Mastercard and these crypto first offer special crypto payment cards in a number of countries.

For example, Binance Card is a Mastercard-provided prepaid payment card that links with user Binance accounts. The clients are able to make payments in traditional currencies from their cryptocurrency holdings on the platform.

“We have dozens of partners around the world who offer crypto card programs, and they continue to expand,” Raj Dhamodharan, Mastercard’s head of crypto and blockchain, told Reuters. “Providing access to crypto in a safe way is also part of our value proposition, and we’re continuing to do that.”

The crypto industry currently faces a challenging environment as U.S. regulators continue to aggressively pursue legal actions against crypto firms that don’t comply with the existing regulations. Binance is currently facing a suit by U.S. Commodity Futures Trading Commission, while SEC is taking action against the US-based crypto exchange Coinbase.

The post Mastercard Looking to Expand Its Involvement in Crypto Industry appeared first on theprimarymarket.com.

The deal is composed of two parts, MTN Chief Executive Officer Ralph Mupita said on a video call on Monday. It consists of a commercial agreement on payments and remittance in which it is agreed that MTN will leverage Mastercard’s technology infrastructure as it looks to expand its fintech capabilities. The size of Mastercard’s stake in MTN’s fintech business will be determined once the deal is completed, Mupita revealed.

With Africa’s young and tech-savvy population making increasing use of their smartphones for a growing array of activities, a market opportunity has presented itself to Mastercard and MTN whereby the companies can provide this target market with new financial and banking services. Much of the fintech investments to date have been in mobile payment systems.

The post Mastercard to Buy $5.2 Billion Stake in MTN appeared first on theprimarymarket.com.

Mastercard has already teamed up with a number of industry giants, including the world’s leading crypto exchange Binance as well as other crypto exchanges like Nexo and Gemini. As part of the collaboration, Mastercard and these crypto first offer special crypto payment cards in a number of countries.

For example, Binance Card is a Mastercard-provided prepaid payment card that links with user Binance accounts. The clients are able to make payments in traditional currencies from their cryptocurrency holdings on the platform.

“We have dozens of partners around the world who offer crypto card programs, and they continue to expand,” Raj Dhamodharan, Mastercard’s head of crypto and blockchain, told Reuters. “Providing access to crypto in a safe way is also part of our value proposition, and we’re continuing to do that.”

The crypto industry currently faces a challenging environment as U.S. regulators continue to aggressively pursue legal actions against crypto firms that don’t comply with the existing regulations. Binance is currently facing a suit by U.S. Commodity Futures Trading Commission, while SEC is taking action against the US-based crypto exchange Coinbase.

The post Mastercard Looking to Expand Its Involvement in Crypto Industry appeared first on theprimarymarket.com.