Mastercard to Incorporate Crypto Assets

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Mastercard (MA), a stock traded payment processor with $333 billion in market cap, has announced they are working on directly incorporating crypto assets within their payment network. “We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,” said Raj Dhamodharan, Head of Digital Payments at Mastercard. The company said they’re already working with Wirex and BitPay to create a bitcoin debit card, but now they want to support cryptos directly which they say “will allow many more merchants to accept crypto.” By crypto they appear to mean stablecoins because they rule out any assets that are used as investment, such as bitcoin. “To reach our network, crypto assets will need to offer the stability people need in a vehicle for spending, not investment,” they say. Making this announcement somewhat confusing because it isn’t very…

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