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Finance

OLB Group Surges 90% After Saying It’s Ready for Mastercard Bitcoin Payments

The move comes as payment firms seek to integrate cryptocurrency into their offerings for merchants.

By Michael Bellusci
AccessTimeIconNov 2, 2021 at 6:17 p.m. UTC
Updated May 11, 2023 at 4:09 p.m. UTC
Mastercard Acquires Blockchain Analytics Firm CipherTrace
Mastercard Acquires Blockchain Analytics Firm CipherTrace

Shares of OLB Group Inc. (NASDAQ: OLB) close to doubled to $8.77 after the company said it’s ready to “immediately” process Mastercard bitcoin payments for merchants.

  • OLB’s OmniSoft business management platform supports the processing of multiple cryptocurrencies including bitcoin, ether, USDC and DAI across all merchant platforms, the company said in a statement Tuesday.
  • Credit card giant Mastercard said last month it was integrating cryptocurrency payments into its platform through a partnership with digital asset firm Bakkt.
  • OLB’s system also supports traditional credit card processing, digital wallets such as Apple and Google Pay, along with cryptocurrency-to-fiat conversions.
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    • Read more: Mastercard Is Integrating Crypto Payments Through a New Partnership With Bakkt

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    Michael Bellusci

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

    Follow @mikeybellusci on Twitter