OLB stock soars after announcing Mastercard Bitcoin payments

Rick Steves

OLB’s Omnisoft point-of-sale (POS) options for online, mobile, and in-store provides connectivity to some of the largest cryptocurrency wallets, including MetaMask, Coinbase Wallet, Crypto.com, and Trust Wallets.

bitcoin, dollars and mastercard

OLB Group has readied Mastercard Bitcoin payments processing in a move to help small- and mid-sized merchants address the growing demand for payments in digital assets.

Merchants can activate Mastercard cryptocurrency transaction processing via OLB’s OmniSoft business management platform and the company’s SecurePay Payment Gateway Platform, a Mastercard SDP program.

OLB supports the processing of multiple cryptocurrencies including Bitcoin, Ethereum, USDC, and DAI across all merchant platforms.

The gateway provides traditional credit and debit card processing, digital wallet services such as Apple Pay and Google Pay, and crypto commerce functions such as conversion to fiat currencies, as well as end-to-end cryptocurrency transactions.

Ronny Yakov, chief executive officer for the OLB Group, said: “The recent announcement from Mastercard that it is supporting cryptocurrency should accelerate public acceptance of Bitcoin and other currencies for conducting everyday business. We have enabled crypto commerce throughout our OmniSoft and SecurePay portfolio which enables merchants to offer a broad choice of payment options that match customer’s expectations.”

OLB’s Omnisoft point-of-sale (POS) options for online, mobile, and in-store provides connectivity to some of the largest cryptocurrency wallets, including MetaMask, Coinbase Wallet, Crypto.com, and Trust Wallets.

The stock price of OLB surged nearly 90% since the firm announced Mastercard Bitcoin payments capabilities.

In late October, Mastercard announced a partnership with Intercontinental Exchange’s subsidiary Bakkt to make it easier for merchants, banks and fintechs in the U.S. to embrace and offer a broad set of cryptocurrency solutions and services.

Mastercard partners will be able to offer cryptocurrency solutions, including the ability for consumers to buy, sell and hold digital assets through custodial wallets powered by the Bakkt platform and streamlined issuance of branded crypto debit and credit cards.

Mastercard will also integrate crypto into its loyalty solutions, enabling its partners to offer cryptocurrency as rewards and create fungibility between loyalty points and other digital assets.

Consumers continue to seek out crypto assets as an option for everyday purchases. In the Bakkt U.S. Consumer Crypto Survey of 2,000 U.S. consumers, nearly half (48%) of respondents reported purchasing crypto in the first half of 2021, while 32% of those who didn’t are either very or somewhat interested in doing so before year-end.

And, according to the Mastercard New Payments Index, 77% of millennials stated that they are interested in learning more about cryptocurrency, with 75% saying that they would use cryptocurrency if they understood it better.

Bakkt publicly listed on the NYSE under the ticker BKKT on October 18, 2021. Mastercard continues to invest in the digital asset space through several initiatives such as acquiring CipherTrace and supporting the development of central bank digital currencies.

Read this next

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: FED, ECB, Global Inflation, May 27 ,2024

Central banks walk a tightrope: Fed stays hawkish on inflation, ECB eyes rate cuts but waits on data. This could cause currency swings and impact global economic growth.

Metaverse Gaming NFT

Despite $1 billion lawsuit, Cristiano Ronaldo launches new Binance NFTs

Cristiano Ronaldo has unveiled his fourth non-fungible token (NFT) collection in collaboration with Binance. The new collection is set to debut on the Binance NFT Marketplace this week, featuring highlights from Ronaldo’s football career.

Market News, Tech and Fundamental, Technical Analysis

GBPJPY Technical Analysis Report 27 May, 2024

GBPJPY currency pair can be expected to rise further toward the next resistance level 202.00, which is the target price for the completion of the active impulse wave 3

Digital Assets

Celebrity X accounts hacked to promote meme tokens

Several celebrity and influencer X accounts on social media platforms have been hacked, with the attackers promoting various cryptocurrencies and meme tokens.

Digital Assets

Silk Road founder to walk free if Trump re-elected

Donald J. Trump has vowed to commute the life sentence of Silk Road founder Ross Ulbricht to time served if he is re-elected as president.

Industry News

UF AWARDS Global 2024: Nominations Closing Soon!

There is still time to nominate your brand at this year’s prestigious UF AWARDS Global 2024.

Digital Assets, Uncategorized

SSV.Network to reduce hardware requirements by up to 90%

With projections indicating a milestone of 50,000 validators within the next year, the platform’s scaling roadmap represents a crucial step toward achieving this vision.

Education

Understanding DeFi: new opportunities beyond traditional banking

Dive into the dynamic field of DeFi with our comprehensive article that explores the transformative power of DeFi beyond traditional banking. Discover the broader implications of DeFi in areas like lending, borrowing, and governance.

Retail FX

Exness wins double honours at FMAS 2024 as Best Multi-asset Broker and Most Trusted Broker in Africa

Exness, one of the world’s largest brokers, celebrates a major achievement at the Finance Magnates Africa Summit (FMAS) 2024, securing the prestigious titles of Best Multi-Asset Broker and Most Trusted Broker in Africa.

<