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Mastercard CFO: We see cryptocurrency as an asset class not a payment tool



Time:8/4/2022 2:58:16 AM

[Mastercard CFO: We view cryptocurrency as an asset class rather than a payment tool] Jinse Finance reported that Mastercard (Mastercard) CFO Sachin Mehra recently shared his views on cryptocurrency. "In the cryptocurrency world, we act as an uplink when people use our debit and credit card products to buy cryptocurrencies. We act as a downlink when people want to cash out," he said. roles, where we help them gain access to spend their cryptocurrency balances wherever Mastercard is accepted.”

Additionally, he argues that for anything to be a payment tool in our minds, it needs to have a store of value. If the value of something fluctuates from day to day, that's a problem from a consumer mindset standpoint. As such, we view cryptocurrencies more as an asset class than as a payment instrument.

In terms of payment instruments, there may be more room for stablecoins and central bank digital currencies (CBDCs), Mehra said. (Bloomberg)

Other news:

Mastercard: 41% Completed At Least One Crypto-Related Activity In The Past Year: Golden Finance reports that Mastercard’s 2022 New Payments Index, a global survey of more than 35,000 respondents, found There is widespread awareness of cryptocurrencies. Payments made with cryptocurrencies have nearly doubled in the last year, and in addition, about 40% of global consumers interacted with cryptocurrencies last year, with about 30% of them opening a crypto wallet, trading the currency (27%) or holding it as an investment Hold (29%). About half of global consumers agree that they are interested in other uses for cryptocurrencies, such as paying for everyday items (51%) or buying digital assets (49%). Younger users adapt to digital currencies faster than older generations. the

But while more than 90 percent of consumers are aware of digital currencies, most admit to having little understanding of how they work and the blockchain technology that powers them. [2022/8/12 12:22:04]

Foreign media: Visa and MasterCard have stricter inspections on encryption companies: TheBlock issued an article today saying that payment giants Visa and MasterCard have stricter inspections on encryption companies than other card issuers. Visa and Mastercard's crypto partners must provide details about fraud and money laundering checks before being allowed to offer crypto services to customers. Wirex CEO Pavel Matveev said that Visa uses tools such as Chainalysis and Elliptic to investigate individual transactions to determine whether they come from "legitimate sources." [2020/11/22 21:37:44]

MasterCard, Alipay and VeChain Join the Australia-China Supply Chain Alliance Using Blockchain to Authenticate and Track Food: On May 4, VeChain, MasterCard and Alipay joined the Australia-China Supply Chain Alliance. The alliance will provide a comprehensive solution for authenticating and tracking food, wine and agricultural products using blockchain. (Cointelegraph)[2020/5/4]

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