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Mastercard Pledge Supports for Cryptocurrency, Will Allow Transactions along its Network

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According to the latest report, Mastercard said it is devising to hold up cryptocurrencies direct on its network this year, as the company follows the rise of digital assets.

The company alleged it is encountering more people using cards to buy crypto assets like Bitcoin, etherum etc. more people are using crypto cards to access and convert these assets into traditional currencies for spending.

“Regardless of your opinion on
cryptocurrencies, the fact
remains that these digital
assets are becoming a more
important part of the
payments world,” said the firm.

Mastercard Inc said their philosophy about cryptocurrencies is simple, and they are not next to force you to use it or not but the choice is yours.


“Mastercard isn’t here to

recommend you start using

cryptocurrencies. But we are

here to enable customers,

merchants, and businesses to

move digital value – traditional

or crypto – however, they

want. It should be your choice,

it’s your money.”

 

Mastercard Inc. is also“actively engaging” with central banks around the world on their plans to launch new digital currencies.


The company will place consumer protections and conformation in its own plans, Raj Dhamodharan, executive vice president of digital asset and blockchain products and partnerships, said in the post.


Mastercard’s announcement comes after Tesla Inc. said it invested$1.5 billion in Bitcoin this week, sending the cryptocurrency to a record.



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