June 22 (Cointime) - Mastercard has extended its Engage program to help cryptocurrency firms launch card programs by connecting them with appropriate technical partners.

The program reduces the time it takes to bring crypto cards to market and enables crypto-to-fiat conversions. Mastercard identifies and forms partnerships with companies that issue cards or are BIN sponsors looking to launch a crypto card.

The move comes as traditional finance firms are increasingly entering the digital assets space, and follows Mastercard's recent launch of a crypto credentials program to carry out anti-money laundering checks for cross-border transactions. A cohort of crypto payments firms, including Baanx and Paymentology, have joined the Engage program.