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- Mastercard is working on unlocking the full potential of crypto assets
- They also plan to bring approved digital assets to their network
- Mastercard also plans on releasing crypto-focused debit cards
According to a senior executive at Mastercard, the company is working to realize the full potential of crypto assets.
Raj Dhamodharan, head of crypto and blockchain at Mastercard, says in a new blog post that the company intends to fulfill the much-anticipated expectation of crypto assets being viable payment methods.
Mastercard has a variety of projects in development
Dhamodharan says that bringing together the various financial services industries is the key to success in this regard.
They need to bring together the best of technology, banking, fintech, and cryptocurrency in order to unlock the potential of digital assets. As a result, a wide range of new services will be developed and the transfer of funds will become quicker, easier, and less expensive.
It is possible to fulfill the long-held promise of making cryptocurrency a payment method. The crypto ecosystem may also benefit from these partnerships in terms of user safety, market stability, and increased mainstream adoption.
Digital currency ownership and spending could one day be as simple as using a contactless card to pay. Mastercard claims that it is currently working on a number of projects that will assist it in achieving its objective.
ALSO READ: China busted 13 Underground Crypto Apps
Mastercard plans to supply cybersecurity tools to support crypto investors
To begin, it intends to continue distributing worldwide debit cards with a focus on cryptocurrency. These cards serve as a useful link between the expanding crypto ecosystem and existing financial services. This year, we have announced dozens of brand-new crypto card programs worldwide.
Additionally, the company intends to provide crypto investors and issuers with cybersecurity tools and a means to quickly convert crypto to fiat for payment settlement. Additionally, Mastercard intends to include approved digital assets in its network, but no cryptocurrency has been mentioned.
Last but not least, the company claims that it is working to support the metaverse and non-fungible tokens (NFTs) by allowing crypto exchange platform users to pay for digital collectibles with Mastercard.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
