• Ishaan kakkar

Mastercard to allow cardholders to transact in cryptocurrencies

Financial services firm Mastercard will now begin allowing cardholders to transact in certain cryptocurrencies on its network, becoming the latest company to embrace digital assets. FYI, Mastercard has previously partnered with some of the biggest cryptocurrency firms, including Wirex and BitPay.

"We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network," MasterCard announced in a blog post. The firm is also “actively engaging" with central banks around the world on their plans to launch new digital currencies.

The company will prioritize consumer protections and compliance in its own plans, Raj Dhamodharan, executive vice president of digital asset and blockchain products and partnerships, said in the post. “Our change to supporting digital assets directly will allow many more merchants to accept crypto — an ability that’s currently limited by proprietary methods unique to each digital asset," he added.

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