Mastercard announces support for certain cryptocurrencies this year

Mastercard announced yesterday that its network will support certain “cryptocurrencies” during the year 2021.

“This year Mastercard will begin to support certain cryptocurrencies directly on its network. It’s a big change that will take a lot of work […]. Our philosophy on cryptocurrency is simple: it’s a matter of choice. Mastercard isn’t here to recommend that you start using cryptocurrencies, we’re here to empower customers, merchants, and businesses to move their digital assets as they see fit. It’s your money, so it’s your choice.

This advancement will create many more possibilities for buyers and merchants, allowing them to transact in an entirely new form of payment. This change can open merchants to new customers who are already flocking to digital assets and help sellers retain existing customers who request this payment option. And customers will be able to save, store and send money on new terms. “

However, it is not at all certain that Bitcoin is one of the selected cryptocurrencies, Mastercard currently only referring to stablecoins:

“To be completely clear, not all current cryptocurrencies will be supported on our network […]. Many of the hundreds of digital assets in circulation still need to tighten their compliance measures in order to meet our demands. We expect consumers and the ecosystem at large to begin to rally around crypto assets that offer reliability and security. These are the same stable coins that we plan to bring into our network. “

Source: mastercard.com

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