- Emurgo CEO Philip Pon revealed that their application to join Mastercard’s Crypto Partner Program is already in an advanced stage.
- The move aims to provide representation for the Cardano ecosystem in Mastercard’s initiative.
Mastercard, a leading global technology company focused on electronic transactions, unveiled its Crypto Partner Program last month. The initiative includes more than 85 crypto natives, payment providers, and fintech firms.
The crypto industry was well represented in the project by big names such as Ripple, Canton Network, Binance, BitGo, Bybit, Gemini, Paxos, and Solana. However, noticeably absent in the list is Cardano’s (ADA) representation.
Philip Pon, CEO of Cardano’s blockchain venture arm, Emurgo, has recently made a move to ensure that the ADA community has representation in the major coalition formed by Mastercard. He revealed that talks are ongoing regarding the inclusion of their company in the Crypto Partner Program.
Pon highlighted in his social media account that Emurgo’s “primary contact” within Mastercard’s Asia-Pacific (APAC) team has moved to EY (Ernst & Young). Nonetheless, he assured that they have been “actively engaging” with the “successors” of the unnamed individual.
Emurgo’s Application for Mastercard’s Crypto Partner Program Moves to Qualification Stage
The negotiations have resulted in significant progress, with Pon disclosing that Emurgo is now in the Qualification Stage for the Crypto Partner Program. The latest development means the company is already in Mastercard’s formal evaluation process.
The Emurgo CEO is confident that their company will pass Mastercard’s assessment, given Cardano’s strong influence and reach in the digital assets space. To date, ADA remains among the top 15 crypto assets by market cap. Over the last 24 hours, the overall valuation of its 36.09 billion circulating supply ranged from $8.49 billion to $8.74 billion.
Additionally, Pon urged the ADA community to express their support for Emurgo to demonstrate the strength of their ecosystem to Mastercard. He claimed their voices will show the global payments giant of the company and Cardano’s capability to make a difference in their business.
Cardano and Crypto Community Feedback
Pon’s campaign has garnered overwhelmingly positive feedback from Crypto Twitter (CT). Many believe Cardano definitely belongs in the pack of Mastercard’s cohorts, especially now that the Google Quantum AI group found out that it’s the second most quantum-resistant blockchain in the world, making it ready for the Post-Quantum transition of finance.
Meanwhile, some raised skepticism on the matter. One argued that if there were indeed any dealings, they would have been covered by a Non-Disclosure Agreement (NDA), preventing the parties from discussing the status of the application to the public. However, Pon clarified that Mastercard’s application process, like most companies, is public and open. Nevertheless, Emurgo reached out to Mastercard directly due to its close relationship with its APAC leads.
Interestingly, Pon said the Cardano Foundation is also keeping in touch with Mastercard to vouch for Emurgo.
