{"id":175531,"date":"2021-02-11T05:36:08","date_gmt":"2021-02-11T02:36:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mastercard-announces-support-for-crypto-on-its-network\/"},"modified":"2021-02-11T05:36:08","modified_gmt":"2021-02-11T02:36:08","slug":"mastercard-announces-support-for-crypto-on-its-network","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mastercard-announces-support-for-crypto-on-its-network\/","title":{"rendered":"# MasterCard announces support for crypto on its network"},"content":{"rendered":"

“# MasterCard announces support for crypto on its network <\/strong>”
\n<\/p>\n

MasterCard<\/a> has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants.<\/p>\n

The firm believes this may open merchants up to new customers and build loyalty with existing customers who are already migrating to digital assets over traditional fiat options.<\/p>\n

\u201cIt\u2019s about choice. MasterCard isn\u2019t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value\u201d<\/p><\/blockquote>\n

While the global payments giant noted it is planning to support stablecoins due to their \u201creliability and security,\u201d Mastercard declined to name any specific cryptocurrencies it will integrate.<\/p>\n

However, Mastercard offered four core criteria by which it will be assessing prospective assets: robust consumer protections including consumer privacy and security, strict KYC compliance, adherence to local laws and regulations, and stability as a means of payment.<\/p>\n

MasterCard also noted it is \u201cactively engaging with several major central banks around the world\u201d to support central bank digital currency initiatives, or CBDCs. <\/p>\n

Last year, the firm released a “virtual sandbox” tool to demonstrate how a CBDC can be used to settle consumer purchases using MasterCard\u2019s infrastructure.<\/p>\n

MasterCard\u2019s announcement also reported increasing demand for digital assets among its customers, noting that many users have been buying crypto assets with their MasterCards amid the current bull market.<\/p>\n

\u201cDigital assets are becoming a more important part of the payments world,\u201d MasterCard concluded.<\/p>\n

“We are here to enable customers, merchants and businesses to move digital value \u2014 traditional or crypto \u2014 however they want. It should be your choice, it\u2019s your money.”<\/p><\/blockquote>\n

MasterCard already devoted significant resources into exploring distributed ledger technology<\/a>, with the company currently holding 89 blockchain patents while a further 285 app<\/a>lications are pending.<\/p>\n

The payments provider has engaged in crypto payments for some time now, partnering with Wirex and BitPay to create crypto cards, although no cryptocurrencies moved through MasterCard\u2019s network.<\/p>\n

MasterCard\u2019s announcement is the latest of a series<\/a> of institutional adoption of cryptocurrencies that have come in the last few weeks. This week Tesla announced a purchase of $1.5 billion Bitcoin from its cash reserve adding that it will soon accept Bitcoin payments for its cars.<\/p>\n

Last week, PayPal doubled down on crypto announcing that it will offer crypto payments for its 26 million merchants after its limited crypto trading services \u201cexceeded expectations.\u201d<\/p>\n

One week prior to this, Visa chairman and CEO Al Kelly reaffirmed its commitment to crypto payments and onramps during its Q1 earnings call. <\/p>\n

Speculation on which other tech firms will be the next to enter the cryptocurrency rabbit-hole has also started emerging, with financial services provider RBC Capital Markets stating<\/a> that Apple should follow in Tesla\u2019s footsteps. RBC analyst Mitch Steves wrote to clients that developing a crypto exchange into the Apple Wallet would create a sizeable new market for growth.\n<\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# MasterCard announces support for crypto on its network ” MasterCard has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants. The firm believes this may open merchants up to new customers and build loyalty with existing customers…<\/p>\n","protected":false},"author":1,"featured_media":175532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNDQyODk0NjItNmE2Ny00NDRiLTllZmUtNWFhMmY4Nzc5YjM2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74894,75046,74863,77423,75050,74889,76574,75493,77456,5029,117],"class_list":["post-175531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-blockchain","tag-cbdc","tag-cryptocurrencies","tag-mastercard","tag-merchants","tag-payments","tag-paypal","tag-stablecoin","tag-visa","tag-apple","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/175531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=175531"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/175531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/175532"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=175531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=175531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=175531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}