Mastercard to open for some cryptocurrencies

Thursday 11 February 2021 11:05 CET | News

Mastercard has announced that it was planning to offer support for some cryptocurrencies on its network this year, joining a string of firms pledging similar support.

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.

This could offer more payment possibilities for shoppers and merchants, and the later of them may benefit from getting new customers more used to digital assets.

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Keywords: MasterCard, crypto, customer cards, crypto cards, cryptocurrency, digital assets, credit-card, Bitcoin
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3