Mastercard Thinks Blockchain Needs a Middleman

LUANDA, Mar 12 – Mastercard has introduced the Crypto Partner Program, a new global initiative that brings together more than 85 crypto-native companies, payments providers, and financial institutions with the goal of connecting on-chain blockchain technology to the infrastructure that powers everyday global commerce

The program gathers companies across the blockchain, fintech, and traditional banking sectors, including Binance, Circle, Gemini, PayPal, Paxos, Ripple, BitGo, and Crypto.com

The initiative focuses on practical uses such as cross-border transfers, business-to-business payments, and global payouts by linking on-chain tools with existing payment rails. Mastercard’s network links banks, merchants and consumers in more than 200 countries and territories, and the company argues that blockchain-based payments will only scale widely if they can plug into that kind of global infrastructure

Companies in the program will work directly with Mastercard teams on product development and strategic direction, helping to shape services that integrate the speed and flexibility of on-chain payments with the global infrastructure of card networks. The program also provides forums for partners to exchange ideas, share expertise, and coordinate on industry standards

The company’s EVP of Blockchain and Digital Assets, Raj Dhamodharan, has been vocal about why this is an opportunity rather than a threat. His argument is that stablecoins arrive without the institutional infrastructure Mastercard has spent decades building global acceptance, identity verification, fraud prevention, dispute resolution, and compliance frameworks covering 210 countries