KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling

Subscribe to Updates

Get the latest Crypto news from kronosslott.

What's Hot

Hackers Hijack RobinHood Twitter To Push Scam Crypto Coin

January 27, 2023

FTM/USD Moves Bullishly Above $0.476

January 26, 2023

Biggest Crypto Gainers Today – January 26

January 26, 2023
Facebook Twitter Instagram
  • Affiliate Disclosure
  • Anti Spam Policy
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram
KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling
KronosSlott
Home » Mastercard Focusing on 5 Key Areas to Turn Crypto Into ‘an Everyday Way to Pay’ – Featured Bitcoin News

Mastercard Focusing on 5 Key Areas to Turn Crypto Into ‘an Everyday Way to Pay’ – Featured Bitcoin News

adminBy adminOctober 14, 2022No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Mastercard Working on 5 Projects to Turn Crypto Into 'an Everyday Way to Pay'
Share
Facebook Twitter LinkedIn Pinterest Email


Mastercard has outlined five key crypto areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.” A Mastercard executive opined: “Someday soon, the ability to own and spend a digital currency could be as seamless as making a contactless card payment.”

Mastercard Focusing on 5 Major Areas Covering Crypto, Metaverse, and NFTs

Mastercard highlighted on Wednesday five different areas it is working on in order to “turn cryptocurrencies into an everyday way to pay.”

Raj Dhamodharan, executive vice president of Digital Asset and Blockchain Products & Digital Partnerships at Mastercard, explained: “Digital assets like cryptocurrencies and central bank digital currencies [CBDCs] have the potential to transform the financial system’s infrastructure.” He added that non-fungible tokens (NFTs), blockchain gaming, and metaverse experiences “could change how consumers shop and communicate.”

The executive opined:

Someday soon, the ability to own and spend a digital currency could be as seamless as making a contactless card payment.

Dhamodharan proceeded to outline five key areas that Mastercard is working on to make this happen. The first area is crypto cards. He detailed that Mastercard already announced dozens of new crypto card programs globally this year. For example, in the U.S., the payments giant worked with Gemini on a credit card that pays rewards in cryptocurrencies. In Argentina, the company launched a prepaid card with Binance. In Europe, Mastercard recently announced the world’s first physical debit card that can be customized to include a customer’s NFT avatar.

The second area is services for crypto. Noting that “Mastercard is a provider of cybersecurity, digital ID, advisory and open banking services to tens of thousands of financial institutions,” Dhamodharan said the company is going to use the same tools “to provide more support to crypto players and issuers.” Mastercard has expanded its consulting work to include a dedicated crypto practice and it completed the purchase of Ciphertrace last year. The company will soon launch a new crypto monitoring product called Crypto Secure.

The third area is payments. “We’ve partnered with a handful of top-tier crypto-focused companies — including Paxos, Circle, Evolve and Uphold — to develop ways for people to quickly convert their crypto to fiat to make payments. This work will support current and future crypto card partnerships,” the executive detailed.

Noting that the fourth area focuses on crypto on the Mastercard networks, Dhamodharan emphasized:

An important way to expand choice for people is to bring certain Mastercard-approved digital assets onto our networks, a plan we announced last year that continues to move forward.

The fifth area concerns the metaverse and non-fungible tokens (NFTs). Mastercard is working to grow its partnerships to support NFTs and the metaverse, Dhamodharan explained. For example, Coinbase users can now pay for NFTs with Mastercard.

In conclusion, the Mastercard executive noted that the payments giant already operates “a trusted global network that enables payments with a single tap or click.” He added, “That’s what the crypto economy needs to support the next million users — or the next billion,” elaborating:

We’re excited to prioritize these core areas to give people more access to the crypto ecosystem and help it keep innovating and growing.

What do you think about the five key areas Mastercard is engaged in to “turn cryptocurrencies into an everyday way to pay”? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

December 12, 2022

What is a Doji candle pattern and how to trade with it?

December 12, 2022

Bitcoin Price Slides As Markets Brace For Fed Policy Decision And Inflation Data

December 12, 2022

Comments are closed.

Don't Miss

Hackers Hijack RobinHood Twitter To Push Scam Crypto Coin

Blockchain January 27, 2023

Join Our Telegram channel to stay up to date on breaking news coverage In a…

FTM/USD Moves Bullishly Above $0.476

January 26, 2023

Biggest Crypto Gainers Today – January 26

January 26, 2023

Aptos (APT) Rises 500% as Bitcoin Stabilises Around $23,000

January 26, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

Hackers Hijack RobinHood Twitter To Push Scam Crypto Coin

January 27, 2023

FTM/USD Moves Bullishly Above $0.476

January 26, 2023

Biggest Crypto Gainers Today – January 26

January 26, 2023

Aptos (APT) Rises 500% as Bitcoin Stabilises Around $23,000

January 26, 2023

Subscribe to Updates

Get the latest Crypto news from kronosslott.

About Us
About Us

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Pinterest YouTube WhatsApp
Categories
  • Altcoin (4)
  • Bitcoin (2,020)
  • Blockchain (757)
  • Ethereum (320)
  • Gambling (2,082)
  • Litecoin (53)
  • NFTs (2)
Our Picks

Hackers Hijack RobinHood Twitter To Push Scam Crypto Coin

January 27, 2023

FTM/USD Moves Bullishly Above $0.476

January 26, 2023

Biggest Crypto Gainers Today – January 26

January 26, 2023
©2022 –Kronosslott. All Rights Reserved. Kronosslott.com is an independent i-Gaming news site and casino comparison service. Every effort is made to ensure that the bonus offers listed here are accurate and up-to-date. However, we accept no responsibility for inaccuracies or errors. It is your responsibility to confirm the terms of any promotion you choose to accept. Looking to Advertise with us? Kronosslott is always looking for new partnerships. To Inquire please email kronosslott@gmail.com

Type above and press Enter to search. Press Esc to cancel.