Nexo and Mastercard Launch ‘World First’ Crypto-Backed Payment Card

Nexo and Mastercard Launch ‘World First’ Crypto-Backed Payment Card
Credit card is seen in front of displayed Master Card logo in this illustration taken, July 15, 2021. Dado Ruvic/Illustration/File Photo/Reuters
Reuters
Updated:

LONDON—Crypto lender Nexo said it has teamed up with global payments company Mastercard to launch on Wednesday what it calls the world’s first “crypto-backed” payment card.

It signals the latest move by crypto and incumbent financial networks to join forces as digital assets become more mainstream.