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Mastercard Will Implement Cryptocurrencies This Year

12 February 2021, 14:43
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The world-known card payment system is going to add cryptocurrencies to its platform. Even though Mastercard has already been covering crypto transactions via the partner programs, now the firm wants to settle the process. Login Casino follows the latest cryptocurrency news, now explaining how this step may change the digital assets environment.

Mastercard Will Implement Cryptocurrencies This Year

The movement of global financial institutions towards digital assets is a logical step to save the credibility and attractiveness of their services. While the national banks are on the way to introducing digital currencies, independent financial institutions are already implementing cryptocurrencies. Payment platforms like PayPal and Visa are on the way to adding tokens as options for financial transactions, and Mastercard also joins the race.

Mastercard and cryptocurrencies

Interestingly, Mastercard is not the newcomer in this field as it has been suggesting crypto payments via a partnership with Uphold and Wirex. However, the procedure was quite complicated as the crypto transactions required beforehand and independent purchase of the tokens by the clients, as the firm deals with only fiat money. Now, Mastercard wants to implement the crypto transactions as a rooted tool.

Moreover, the payment giant has numerous patents in the field of cryptocurrencies, including the ones about safe and instant blockchain transactions, privacy saving, and even refunding procedures.

Official statements go in parallel with the digitization trend and Mastercard activity in the process. Thus, the company possesses the platform for testing digital currency transactions, which central banks now use.

Read moreCan investors help in developing crypto technologies buying blockchain stocks?

Read moreWhat to expect from cryptos? Bitcoin price prediction for 2021

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