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October 5, 2022
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MasterCard will accept digital currencies –

Mastercard wants to handle settlements made with cryptocurrencies. Thus, it will allow its customers to pay for products and services in exchange for digital currencies.

Mastercard opens up to digital currencies

Mastercard wants to enable its customers to pay in cryptocurrencies. “This means that merchants will be able to receive the payment in a convenient way for them, without the use of official currencies, if they choose this form, and their customers will be ready to make payments with digital tokens “ – he adds bankier.pl.

We don’t know much about the details, however. The company has not yet announced what digital currencies are exactly at stake. Most importantly, we do not know if Bitcoin itself will be among the accepted cryptocurrencies. There is a risk not. Currencies are to be selected on the basis of the “Principles for Blockchain Partnerships” document. Apparently, four basic criteria will be taken into account: the level of consumer protection, including privacy and security, but also strict compliance with KYC regulations, compliance with local laws and regulations, and exchange rate stability.

– It’s about choice. MasterCard is not here to recommend you get started with cryptocurrencies. But we’re here to empower customers, retailers and businesses to bring value to the digital world – emphasizes the company.

We are going towards blockchain!

Mastercard has been operating in the cryptocurrency market for many years. The company has 89 patents related to blockchain technology. It may soon extend it by 285 solutions.

The company also recently admitted that “Actively cooperates with several major central banks around the world”, to support initiatives to create digital currencies. Last year, she released the tool “virtual sandbox “, to demonstrate how CBDC can be used to settle consumer purchases through the MasterCard infrastructure.

Let us remind you that this is not the end of the news that is so important for adoption. PayPal is moving in a similar direction to Mastercard. In addition, Visa recently admitted its intention to integrate digital assets into its payment network in the future.

Our strategy is to work with wallet providers and exchanges to allow users to purchase cryptocurrencies and withdraw them to Visa accounts – says Visa CEO Al Kelly.

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