Like its biggest competitor, Visa, the payment giant Mastercard has stated that it will « start to support certain cryptographic schemes directly on our network ». However, initially, this will be limited to the stablecoins, which are not fully considered as encryption.
« Our philosophy on cryptography is simple: It’s a matter of choice, » said Raj Dhamodharan, executive vice president (VP) of Mastercard, in an article published on the company’s blog yesterday, adding « It’s your choice, it’s your money ».
But it seems that, for the time being, « your choice » will be limited to the stable corners.
We hope that consumers and the ecosystem as a whole will begin to rally around assets that offer reliability and security. These are the same stable corners that we hope to introduce on our network, » said the Vice President.
Mastercard indicated that it needs four elements to be able to introduce a new asset on its network:
In both cases, the company has already partnered with other payment processing companies, such as Wirex and BitPay, and the LVL exchange, to create cryptographic cards that allow users to conduct transactions using « their cryptomoney ».
Mastercard added that similar « other collaborations » are being negotiated.
« In all these cases, the cryptos are not yet circulating on our network. Our cryptos partners convert the digital assets on their side into traditional currencies and then transmit them to the Mastercard network, » the company said.
The company is also interested in the digital currencies of central banks (CBDCs): « Last year, we created a test platform for these banks to use these currencies in a simulated environment ».
Mastercard claims that it has 89 blockchain patents issued worldwide, with a further 285 applications pending.
« Mastercard’s plans to integrate cryptographic payments are another indicator of the profound structural changes taking place in our financial infrastructure. Today’s payment platforms are adopting digital money solutions that are better equipped for a borderless, Internet-based economy, » John Wu, president of Ava Labs, told Bloomberg.
To buy cryptomoney; SEPA Zone Europe and French citizens:
To buy cryptoskills in Canada:
To buy cryptos by credit card or bank card:
To open a Bitcoin savings plan, go to the regulated platform StackinSat.
To secure or store your cryptomoney:
To invest in mining or masternodes:
To trade your cryptos anonymously:
To earn interest on your Bitcoins:
To accumulate cryptos through gambling:
If you want to learn more about Bitcoin and investing in cryptos, here are two perfect books: « Understanding Bitcoin in 2 hours » and « Investing in Bitcoin ».
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