Mastercard and Revolut, the U.K.-based challenger bank, announced that the digital bank is launching a prepaid card in the U.S. starting this year, part of an expanded global partnership between the companies. 

As part of the agreement, Mastercard will issue at least 50% of all Revolut cards in Europe. Revolut also plans to expand into overseas markets, including Australia, Singapore, Japan, Brazil and Mexico. 

"As a launch partner of Revolut, Mastercard has been an important contributor to our success, and today's agreement will enable us to meet our ambitious goal of offering innovative financial and payment solutions to people all over the world," Nik Storonsky, founder and CEO of Revolut, said in the press release. "Launching in the U.S. will be a huge milestone for us, and we are delighted Mastercard will be our go-to-market partner."

Cover image: Revolut.