The Mastercard News Coinbase Investors Are Watching Today

Today's been a relatively flat day in the crypto market. Over the past 24 hours, the entire crypto market is up only 0.1%, as of 4 p.m. ET, paring some of the day's earlier gains. For cryptocurrency exchanges such as Coinbase Global (NASDAQ: COIN), this has led to a similarly flat day, with Coinbase stock closing down 1.1%, as of market close.

However, there's a key catalyst Coinbase investors are keeping on their radar today. Yesterday, it was announced that Coinbase is teaming up with Mastercard (NYSE: MA) to provide payment services for the company's non-fungible token (NFT) marketplace, which is currently under construction. The idea is that Mastercard credit or debit cards can be used to allow users to pay for NFTs in fiat currency, simplifying the purchasing process for less tech-savvy crypto aficionados.

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Source Fool.com