Mastercard Doesn’t Exclude Possibility of Connecting Cryptocurrency

In general, the banking sector is opposing to the popularization of cryptocurrencies. Although this is not surprising, since digital coins threaten the monopoly of banks in the P2P transfers’ market. Against this background, a statement made by one of MasterCard’s top managers is surprising, as he mentioned that the company is considering the option of using cryptocurrencies. However, under some conditions.

It is worth noting that MasterCard pays sufficient attention to the study and promotion of blockchain technology. However, this does not apply to the practical use of cryptocurrency. One of the steps demonstrating the opposition between payment systems and digital tokens was the fact that the purchase of cryptocurrency was equated with cashing operations. As a result, the users purchasing cryptocurrency using credit cards had to pay higher commission. In addition, banks have cancelled all the perks for such transactions.

But now their position has changed. “We are ready to work with national cryptocurrencies, developed by the governments of states. In a situation where the regulator will support a coin, and its main value will not be anonymous, MasterCard will consider the possibility of working with such an asset,” said Ari Sarker.

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