Mastercard outlines plans for cryptocurrencies, stable coins, Central Bank’s digital currency

Mastercard’s CEO announced the company’s plans to develop products and services related to cryptocurrencies, stable currencies and central bank (CBDC) digital currencies. “We want to play a role in all of them … this is clearly a dynamic area around digital currencies,”he said.

Mastercard wants to play a role in all 3 areas of cryptography
Payments giant Mastercard gave an update on its cryptocurrency plans during a call on Thursday about the company’s earnings. CEO Michael Mibach has announced that his company wants to play a role in three crypto areas. In October, in addition to cryptocurrencies such as Bitcoin, the company also focuses on stable private sector currencies and central bank digital currencies. He confirmed:

We want to play a part in all of them … it’s clearly a moving area around digital currencies … This is current technology. As a very rail player, we should be in this room because people are looking for answers.

Regarding Cryptocurrency, Mibach explained: “We are making it easier for Cryptocurrency wallets to connect seamlessly to our network through a pilot project with paxos, Circle and Evolve Bank &Trust.The executive added: “Separately, we are working with Consensys, an Ethereum software development company, to accelerate the development of crypto applications and services for our customers.”

As for crypto investing, CEO says:

It’s clear that people want to invest in it. They don’t want to sell their investment and we will make it as easy as possible. All these partnerships exist.

Regarding fixed coins, the CEO said Mastercard ” interacts with private sector players and regulators about what the right policy looks like for private sector stable coins because this regulatory compliance issue is still unresolved.”

Mibach later, from the Company 1. during the quarterly earnings call, he said Mastercard was “ready to make our network technologically possible.”

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