Mastercard Is Focusing on Crypto

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n order to make cryptocurrencies an everyday payment method, Mastercard is focusing on five key areas. One company executive believes that owning and spending a digital currency could be as easy as making contactless card payment in the near future.

Mastercard stated on Wednesday that it is focusing its efforts on five major areas surrounding cryptocurrencies, Metaverse, and NFTs in order to increase their use as a means of payment.

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 revolutionize the financial system’s infrastructure.” He added that non-fungible tokens (NFTs), blockchain gaming, and metaverse experiences “could change how consumers shop and communicate.”

In short, the Mastercard executive acknowledged that the payments company already has "a trusted global network that allows for one-touch or one-click payment." He continued on to state that this is precisely what the crypto economy needs in order to support its next million users - or even better, its next billion users.

Mike

An editor at Coincrop

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Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.