Mastercard Supporting Crypt payment will be a dream come true…
Mastercard has become one of the biggest financial service firms. The firm is making plans to support cryptocurrencies later this year, the firm’s digital asset and blockchain VP Raj Dhamodharan stated in a blog post.
After witnessing a spurt in crypto transactions, the financial service firm is ready to select currencies that meet its standards around security, reliability, and compliance. However, this also means that many virtual currencies might not meet these standards at the first hurdle.
This will also enable retailers to accept virtual currencies as a form of payment. The firm VP Dhamodharan stated that the fundamental metric that a stablecoin will be reviewed by is consumer protection, including privacy and strict oversight of consumer information, and, importantly, the level of security people have come to expect in their credit.