MasterCard Joins Visa, PayPal On The Crypto Payments Bandwagon

Less than two weeks after Visa CEO Al Kelly said the payments giant is in a position to make cryptocurrencies more “safe, useful and applicable” and may add them to the company’s payments network; MasterCard has tonight laid out in great detail why it also plans to start supporting select cryptocurrencies directly on its network.

In a detailed and lengthy statement, Raj Dhamodharan, MasterCard's EVP of Digital Asset & Blockchain Partnerships, adds color to CEO Michael Miebach's Q4 pledge to integrate digital currency payments "directly on our network".

The company has not yet disclosed which digital currencies it intends to support, or where.

As CoinDesk notes, previously, Mastercard supported limited cryptocurrency transactions through its crypto card partners Wirex and Uphold. But those programs only cover the payment, not settlement; the coins are converted to fiat currency well before reaching the merchant.

Full note:

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