Chainlink is a company that provides a decentralized oracle network and has partnered with payment provider Mastercard to enable the credit card company's 3 billion cardholders to purchase cryptocurrency on-chain. This integration could drive cryptocurrency adoption by providing a new way for those without Web3 experience to engage with digital assets.
This integration is made possible through a series of partnerships with several Web3 entities, including Shift4 Payments, Swapper Finance, XSwap, and ZeroHash—a cryptocurrency and stablecoin infrastructure company that will provide on-chain services and liquidity, allowing customers to convert fiat currency into cryptocurrency.
"The current version of the application available on Swapper Finance is non-custodial and leverages account abstraction to provide users with simplicity and control," a Chainlink Labs spokesperson told Cointelegraph. "Importantly, this solution is built for everyone, not just crypto-native users or enthusiasts."
Mastercard has embraced cryptocurrency in 2024 and 2025, primarily by issuing cards that allow users to spend cryptocurrency at merchants in different countries. In April, the company announced a partnership with Kraken to launch a crypto debit card in the UK and Europe, and collaborated with MetaMask to launch a self-custody crypto card. In February, the company stated that it had tokenized 30% of its transactions for 2024.
Mastercard's main competitor, Visa, is also active at the forefront of cryptocurrency. In October 2024, it partnered with Coinbase to allow some users of the exchange to instantly withdraw and deposit cryptocurrency. Additionally, it launched a Web3 digital asset platform and invested in the stablecoin payment platform BVNK.
Purchasing cryptocurrency with fiat currency can be fraught with difficulties, especially for those unfamiliar with the technology. This friction could hinder cryptocurrency adoption and the industry's progress.
However, according to Raj Dhamodharan, Executive Vice President of Mastercard's Blockchain and Digital Asset Projects and Partnerships, people want to connect with digital asset systems.
"There is no doubt—people want to easily connect to the digital asset ecosystem, and vice versa," Dhamodharan said.
Related: Beware: SparkKitty malware steals your mnemonic phrase screenshots
Original article: “Chainlink partners with Mastercard to enable 3 billion cardholders to buy cryptocurrency”
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