Mastercard joins the wave of cryptocurrencies: it will integrate some of them into its payment network
With the bitcoin At their all-time highs and much of the rest of the cryptocurrencies following it, digital stocks are stronger than ever. It is not something that has gone unnoticed by Mastercard, which says that will start supporting specific cryptocurrencies directly on your network. A historic step for one of the world’s largest payment agents.
As indicated in an official announcement, they will soon start accepting and integrating some select cryptocurrencies into their network. How exactly they will integrate them remains to be seen, although in principle they refer to transfer and allow payments directly in cryptocurrencies. Currently, although it accepts some of them, it is through intermediaries that they transform them into state and traditional pre and post transaction currencies.
They say Mastercard that this does not seek to offer any kind of recommendation on whether or not to use cryptocurrencies. His position is rather that of offer users the possibility to directly use cryptocurrencies without having to carry out conversions to dollars or euros among others. Something similar to what you are looking for for example PayPal.
Mastercard mentions the possibility for merchants to offer users the option to pay in cryptocurrencies. In addition, they reference that Mastercard customers will be able to “save, store and send money in new ways.”
They have not wanted to indicate which cryptocurrencies will be part of their network and when they will. However, they do refer to cryptocurrencies with stability and avoid those with great volatility. We will have to wait in the coming months to see these integrations and how they directly affect the end user.
The bet of the big companies for cryptocurrencies
As Mastercard prepares to introduce cryptocurrencies to its network, other companies are already fully betting on it. We have the previously mentioned PayPal, which will allow instant transactions in cryptocurrencies between its users. Cash is another that has been in this market for years.
Finally and as a more recent example we have Tesla and its $ 1.5 billion investment in Bitcoin. Has allowed earn more money in two weeks than in twelve years selling cars. At the cost of a tremendous ecological impact.
Via | Mastercard