Mastercard Outlines 3-Pronged Strategy to Support the Growing Crypto Community

Michael Bellusci
Updated 1 min read
0
In this article:

MasterCard mapped out a three-pronged strategy focused on security and better services to support the growing cryptocurrency community during a presentation on Wednesday.

  • The credit card giant said during the virtual event at its annual investor’s day conference that it would focus on “crypto enablement,” which encompasses purchasing, spending, cashing out and rewards involving cryptocurrency; crypto security, including identity services; and network access, which covers interoperability, stablecoins and central bank digital currencies (CBDC).

  • Mastercard senior executives believe that crypto payment flows, including remittances, traditional finance (TradeFi) and decentralized finance (DeFi), represent net new volume for the company, Barclays research analyst Ramsay El-Assal wrote in a note to clients Wednesday after the event.

  • Mastercard has been bolstering its crypto offerings lately, with partnerships in Asia Pacific that will allow consumers and businesses across Asia Pacific to obtain crypto-linked Mastercard credit, debit and prepaid cards.

  • Mastercard said in late October it was working with digital asset platform Bakkt to allow merchants and banks in the U.S. to build cryptocurrency into their offerings.

Advertisement

Recommended Stories

  • Tucked Away In Pennsylvania, This Town Is America's #1 Retirement Haven

    A recent survey from GoBankingRates.com has revealed the country’s number one best place to retire. Learn where this retirement haven is and why it scored 92 on its livability index. Choosing a place to retire is an important decision to make and according to a report from the Alliance for Lifetime Income, America is soon going to be hitting its record numbers of retirement also known as the ‘silver tsunami." The report revealed that a staggering 4.1 million Americans are set to turn 65 years ol

  • Forget Nvidia: Jim Cramer Says This Company Could Be About to Cash In on Artificial Intelligence (AI) Data Centers

    Data center services are witnessing outsized demand as the AI revolution unfolds.

  • Red Lobster Chain Goes Bankrupt After Unlimited Shrimp Deal

    (Bloomberg) -- Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion. Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’Hims Debuts $199 Weight-Loss Shots at 85% Discount to WegovyOne of the Last Big Bears on Wall Street Turns Bullish on US Stocks

  • 'Dumb Money' Loses $13.1 Billion In Latest GameStop Stock Mania

    It appears GameStop meme investors got suckered — again. Investors who jumped into the latest online frenzy over shares of the struggling video game retailer lost $13.1 billion in just three days from the mania's high, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. It's been a costly lesson for investors, some of which may have lost billions the last time on GameStop and other highly shorted stocks touted on social media.

  • Jim Cramer Destroys New Starbucks CEO In Heated Interview, Says He Was "Stunned" As Its Former CEO Admits a "Fall From Grace"

    Despite a strong start to the year for stock markets, investors in Starbucks (NASDAQ:SBUX) have been left bitterly disappointed with its shares down by approximately 20% at the time of this writing. After the earnings miss, Laxman Narasimhan, the new CEO of Starbucks, appeared on Jim Cramer's Mad Money to try and explain both the results and the company's path forward. Don't Miss: Startup behind ‘the #1 free contractor app' grows 162% YoY, opens its doors for investors at a $100 minimum. Invest

  • Jamie Dimon delivers startling message about inflation

    Consumer prices climbed 3.4% year-on-year in April.

  • Microsoft delivers an AI blow to Nvidia

    The software giant goes with Nvidia's rival for a platform of AI chips.

  • Florida’s 125% Surge in Property-Insurance Bills Sows Havoc

    (Bloomberg) -- For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’Hims Debuts $199 Weight-Loss Shots at 85% Discount t

  • Bank of America Predicts up to ~200% Surge for These 2 ‘Strong Buy’ Stocks

    New indicators of a cooling economy eased inflation concerns, driving the S&P 500 to record highs last week. The index, which dropped around 4% in April, is now up 11% for the year. Will this momentum continue? Savita Subramanian, head of US Equity and Quantitative strategy at Bank of America, believes it will. She’s taking an upbeat stance on the current market outlook, and backs it with a look at long-term results from the past 300-plus quarters. “20 were recessionary, 13 were stagflationary,

  • Ask an Advisor: I Don't Need Them ‘Dumped Into My Checking Account.' What Can I Do With RMDs?

    I am approaching the time when I'll take required minimum distributions (RMDs) from my individual retirement account (IRA). I am in a quandary about what I can do with this anticipated largesse of cash. I do not necessarily need the … Continue reading → The post Ask an Advisor: I Don't Need Them ‘Dumped Into My Checking Account.' What Can I Do With RMDs? appeared first on SmartAsset Blog.