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Mastercard opens its network to cryptocurrencies

As is well known, Bitcoin owners have reaped huge profits with Tesla buying $ 1.5 billion worth of popular cryptocurrency, and Elon Musk has also announced that in the near future it is expected to already accept bitcoin as a form of payment. All this flew the cryptocurrency to unprecedented heights. MasterCard’s announcement that it will integrate the payment instrument into its network later this year has also helped to maintain this momentum.

Although the company already offers cryptocards, cryptocurrencies are first used in cryptographic payments. they are converted into foreign currency and then the transactions are carried out with it, but now it is a question of being able to pay directly with the cryptocurrency appearing in the network, which should be faster and cheaper. Mastercard has also stated that it is actively cooperating with central banks working to issue their own digital currency.

“Whatever your opinion of cryptocurrencies – from fanatic to skeptical – it is a fact that the world they become key digital payment instruments, ”said Raj Dhamodharan, head of related business at Mastercard. “We are not saying to start using it, but we will make it available to all customers and market players who want to move money in both traditional and cryptographic ways.”

One of the world’s largest card issuers, of course, only accepts suitable cryptocurrencies. which meet certain data protection, security, legal and efficiency standards. So most altcoins are undesirable in the system.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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