MoonPay, a crypto payment platform, has announced its latest collaboration with Mastercard.

The global payment giant has been actively seeking to explore the advantages of cryptocurrency and find ways in which Web3 tools can enhance experiential marketing, with the goal of establishing stronger connections with their customers.

MoonPay will work closely alongside Mastercard to integrate its solutions and products, and bolster compliance and trust within the Web3 industry.

Offerings will include Mastercard tools such as "Click to Pay," Mastercard Send, and Mastercard Crypto Credentials.

As part of their foray into the crypto sector, Mastercard has previously introduced various industry products onto its platform.

Last year, the payment giant has launched an initiative enabling banks to provide crypto trading services to their customers in partnership with Paxos.

Additionally, it teamed up with Coinbase to facilitate payments for Web3 and nonfungible tokens.