CURRENT AFFAIRS

Detailed explanation-1: -Nexo, a leading regulated institution for digital assets, is partnering with Mastercard to launch the world’s first crypto-backed payment card that will allow users to spend without selling their digital assets.

Detailed explanation-2: -Nexo launched world’s 1st crypto-backed payment card “Nexo Card” London-based Cryptocurrency lender, Nexo has joined hands with global payments company Mastercard to launch the world’s first “crypto-backed” payment card.

Detailed explanation-3: -Mastercard has already teamed up with Coinbase on NFTs and Bakkt to let banks and merchants in its network offer crypto-related services. Last week, Visa partnered with FTX to offer crypto debit cards in 40 countries and has more than 70 crypto partnerships.

Detailed explanation-4: -PURCHASE, N.Y. –(BUSINESS WIRE)– Mastercard today introduces Crypto SourceTM, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.

Detailed explanation-5: -Mastercard has launched a program to let financial institutions offer cryptocurrency trading to their customers. The payment giant will serve as a bridge between banks and Paxos, a crypto trading platform. The move could expand the adoption of crypto among the general population.