Mastercard crypto

Sachin Mehra, the CFO (chief financial officer), of Mastercard sees crypto as a potential opportunity for growth.

Mastercard & Crypto

The payment processor Mastercard is looking to diversify its products and expand its reach. The company’s CFO believes that e-commerce and crypto transactions could be the perfect area to develop.

Mastercard crypto website

With the rate at which the cryptocurrency industry is growing, it’s becoming increasingly difficult to ignore. Just a few years ago, mainstream payment processors like Visa and Mastercard would have never dreamed about expanding into an industry supposedly dominated by criminals. However, as the market grew, it became clear that the stereotypes perpetuated by early crypto-skeptics were unfounded. As a result, many large companies slowly began looking into how cryptocurrency could benefit their businesses.

In recent times, Mastercard has been fairly outspoken about its focus on cryptocurrency. In 2021, the company spoke about adding certain cryptocurrencies directly onto the Mastercard network.  While it went to on state that it would be unlikely to add a lot of assets as they lack regulatory compliance. However, it seems as though Mastercard will likely focus on adding stablecoin support. Generally, assets designed to mirror fiat are often regulated more strictly than other crypto assets. The same can be said for digitized national currencies like the digital Pound.

Mastercard views itself as an on/off-ramp into the cryptocurrency industry. Rather than persuading its customers to get involved in the sector, it instead aims simply to provide the tools required to participate. This means allowing customers to easily buy crypto with a credit card and helping customers to be able to spend crypto everywhere Mastercard is accepted.

We’ve still got a long way to go before companies like Mastercard fully support cryptocurrency. However, with Mastercard believing crypto could be a growth opportunity, It seems likely that as crypto regulation steps up and more coins issued by central banks are released, we’ll see support increase exponentially.

Related

Tamadoge - The Play to Earn Dogecoin

Our Rating

Tamadoge
  • '10x - 50x Potential' - CNBC Report
  • Deflationary, Low Supply - 2 Billion
  • Listed on OKX
  • Move to Earn, Metaverse Integration on Roadmap
  • NFT Doge Pets - Potential for Mass Adoption
Tamadoge