Mastercard has very high goals in the crypto industry. The company’s goal is to become a major partner of global governments and private entities in testing, developing and introducing digital currencies into central bank systems.
Michael Miebach, the company’s CEO himself, came up with this interesting report. In an interview on the company’s financial results, he said that his company could become a key element in the introduction of cryptocurrencies into banking systems and international transactions,
“We believe that we bring a perspective to the market for all types of payments. We need to be a support unit in this sector, because people need answers. ”
Developments in the field of digital names
Mastercard is very active in digital currency innovation. These steps were partly started thanks to the steps of their main competitor, VISA. In February of this year, the company unveiled a plan to support cryptocurrencies, essentially supporting nearly a billion of its users, who can benefit from crypto payment to more than 30 million businesses.
Mastercard supports stablecoins
The company also plays a significant role in supporting stablecoins. Among the main stablecoins that have already started working with Mastercard is the USD Coin from Circle. Among other things, it is preparing to launch a large cooperation with the Diem token, which will bring to the market a giant from the field of social networks, Facebook. However, the company’s CEO added that partners needed to comply with regulatory laws and consumer protection and safety standards.
Earlier this month, the company announced the launch of another important partnership with Paxos and Evolve Bank & Trust. The main goal of new projects is to introduce so-called crypto cards that allow you to use cryptocurrency payments wherever it is possible to use a Mastercard.