Mastercard to open for some cryptocurrencies

Mastercard already offers customers cards that allow people to transact using their cryptocurrencies, although without going through its network. Mastercard specified that not all cryptocurrencies will be supported on its network, adding that many of the hundreds of digital assets in circulation still need to tighten their compliance measures.

The credit-card company’s announcement comes days Tesla revealed it had purchased USD 1.5 billion of Bitcoin and would soon accept it as a form of payment. Asset manager BlackRock and payments companies Square and PayPal have also recently backed cryptocurrencies.