Mastercard to simplify crypto card payments

Published: 12.08.2021 Related countries:  Korea (south) Korea (south)

Mastercard to extend and simplify cryptocurrecy payments.

Mastercard will expand its card program for cryptocurrency wallets and  markets.  It  will  make  it  easier  for  its  partners  to  convert cryptocurrencies   into   traditional   legal   currencies   (fiat). Cryptocurrency custodians will now be able to offer their own card programs to clients, making payments easier. Mastercard's CEO forthe Czech Republic and Slovakia Michal Čarný said that thanks to this innovation, digital money will not only be a matter of financial speculation, but also a means of real payment for common products and services. Mastercard is working on the project primarily with Evolve  Bank  &  Trust,  a  blockchain  infrastructure  provider,  PaxosTrust Company, a regulated platform issuing the USDC stable coin cryptocurrency, and Circle, a financial technology firm.  

Source: CIA News
Prepared by the team of foreign office CzechTrade and CzechInvest Seoul