The financial landscape is undergoing a radical transformation, and at the forefront of this change is the card services giant, Mastercard. The company is expanding its success in the payments sector into the realm of digital assets, aiming to facilitate transactions with cryptocurrencies.
Following its enormous impact on traditional finance, Mastercard's new goal is to help its more than 3.5 billion card users worldwide and new interested parties to conduct transactions with cryptocurrencies.
Moreover, Mastercard has forged partnerships with entities such as JPMorgan and Standard Chartered, focusing on cross-border payments, tokenized deposits, and carbon credit transactions.
Additionally, it has launched over 100 cryptocurrency-focused card programs globally, enabling its cardholders to interact with these assets more directly.
Mastercard and its Blockchain network that integrates the traditional world and that of cryptocurrencies
In fact, Mastercard's foray into blockchain with its Multi-Token Network is more than just a simple technological upgrade; it is a strategy that marks a profound shift in the financial sector.
According to a report from Business Insider, it shows that the payment giant is exploring ways to facilitate transactions with Bitcoin between merchants and banks.
A bridge to the future of crypto payments
On this matter, according to Business Insider, Raj Dhamodharan, executive vice president of blockchain products and digital assets at Mastercard, revealed that Mastercard aims to develop a cryptocurrency payment system similar to Venmo or Zelle.
Financial institutions are increasingly interested in blockchain.
MY opinion
«Blockchain is a transformative technology that has the potential to change the way we conduct business, interact online, and trust information.»
