The American company Mastercard announced that this year it will add support for several digital currencies.
Mastercard intends to add stablecoins first, as they are “more regulated, secure and reliable.” The firm has already begun working on integrating crypto assets into its network.
The company has long offered cryptocurrency cards, but this is done in collaboration with payment firms that convert cryptocurrency into fiat for transactions. Because of this, using such cards is not very profitable.
If Mastercard integrates cryptocurrency, then payments in digital currencies will be made directly, without conversion. This payment method will be faster and cheaper than current crypto cards.
At the end of last year, Visa also announced that it plans to work with stable coins. The company intends to connect its payment network of 60 million merchants to the stablecoin USD Coin (USDC).
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