22 Aug '12, 2pm

MasterCard denies Bitcoin debit card rumors

MasterCard has said that it's not aware of plans to develop a credit or debit card based around Bitcoin virtual currency. Yesterday, it was rumored that transfer service BitInstant was partnering with two unnamed banks to release a Bitcoin MasterCard in the next two months. But according to MasterCard, it's never been approached by BitInstant. We've received the following statement: MasterCard has no relationship with BitInstant. There are issuers who allow the conversion of Bitcoins to US dollars and other currencies, delivered on prepaid cards. However, we're not aware of this particular programme from BitInstant. As a spokesperson told TechWeekEurope , that means any cards couldn't be in more than a preliminary stage, since "both the issuer and its banking partners need to go through a rigorous screening process" before they could release anything that would function as...

Full article: http://www.theverge.com/2012/8/22/3260059/mastercard-deni...

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