Credit card behemothic Mastercard made a big splash in the digital asset market on Tuesday by announcing the launch of crypto-linked payment cards across the Asia-Pacific region.

In partnership with three cryptocurrency service providers, namely Bister Group and Bitkub in Thailand and CoinJar in Commonwealth of australia, Mastercard will offering crypto-funded payment cards that enable users to instantly catechumen their digital assets into traditional fiat money.

"Rather than directly transferring cryptocurrencies to a merchant, cardholders volition now exist able to instantly convert their cryptocurrencies into traditional fiat currency which tin can exist spent everywhere Mastercard is accustomed effectually the world, both online and offline," the company said.

Although Mastercard didn't specify which cryptocurrencies would exist supported, the company singled out Bitcoin (BTC) and Ether (ETH) as two assets that are already accepted by some merchants only haven't yet achieved widescale adoption. Co-ordinate to Mastercard's own research on the Asia-Pacific region, 45% of people surveyed say they are considering using cryptocurrency in the adjacent year.

News of the crypto credit cards quickly spread throughout Twitter, with influencers touting the growing mainstream entreatment of Bitcoin and other cryptocurrencies. Although crypto is enjoying newfound legitimacy as an investable asset class, as evidenced by the market'south contempo $three trillion milestone, uptake in the payments sector has been much slower.

Related: Mastercard is preparing its infrastructure for the deployment of CBDCs

Mastercard, meanwhile, has had its fingerprints all over the cryptocurrency market place, perhaps in apprehension that digital assets will one twenty-four hours gain traction as a payments vector. Last month, the credit card giant announced plans to allow United states partners to offer crypto loyalty rewards. Past partnering with digital asset platform Bakkt, Mastercard said it plans to allow customers in the United States to buy, sell and concord crypto through custodial wallets.