- The payment system is already working with cryptocurrency exchanges
- Mastercard is enthusiastic about blockchain technology
Payment giant Mastercard said it plans to expand its cryptocurrency card program. To do this, the company will look for new partners among cryptocurrencies.
The head of Mastercard said they will cooperate with cryptocurrency companies, even though the sector is under scrutiny by regulators.
The international payment system is already working with cryptocurrency exchanges, among them: Binance, Nexo and Gemini.
These integrations aim to create cryptocurrency payment cards in some countries, such as Binance cards allow users to make payments in traditional currencies using assets stored on the exchange.
Mastercard’s head of cryptocurrency and blockchain, Raj Damodharan, said:
“We have dozens of partners around the world that offer cryptocurrency card programs, and they continue to expand, and providing secure access to cryptocurrencies is also part of our value proposition, and we continue to do so.”
Raj was asked whether Mastercard is considering placing limits on the amount of money that can be transferred to cryptocurrencies through its payment network. He replied:
“We are not here to pick winners.. We are not here to decide which transaction should or should not take place.
Mastercard is really enthusiastic about the blockchain technology behind cryptocurrencies.”
Damodharan also added that Mastercard users undergo a number of compliance checks, and the company has cryptanalysis technology.