Cryptocurrency issuance from Mastercard!

Very important statements about cryptocurrencies came from Mastercard, one of the most important payment networks in the world! Here are those explanations!

After Paypal, Mastercard embraced crypto!

Mastercard made a very important statement about cryptocurrencies, which can be considered as a milestone, on its blog page during the day.. The company announced that it has decided to support selected cryptocurrencies through its own network towards the end of this year.

The credit card giant’s announcement states that Tesla Inc has purchased 1.5 billion $ of Bitcoin and It came after it announced that it would soon accept it as a form of payment.

The statement from the company also included the following words:

Whatever your thoughts on cryptocurrencies, the truth is, these digital assets are becoming more and more important parts of the financial world and payment systems.

We are currently gearing up for the future of crypto payments and this year we are announcing that we will start supporting selected cryptocurrencies directly on our network as Mastercard. This is a big change that requires a lot of work. We will be very careful about what assets we support, based on our digital currencies policies that focus on consumer protections and compliance.

4 things we look for in a crypto!

First and foremost, we need consumer protection, including the privacy and security of consumers’ information. The same level of security people expect on their credit cards.

1. Security

Strict compliance protocols will then be needed, including Know Your Customer, a requirement to eliminate illegal activity and deception in payment networks.

2. Stability

In addition, these digital assets must comply with local laws and regulations in the regions in which they are used.

3. Backed by law

Finally, people will want to use these digital assets for payments, which is one of our criteria.

4. People’s wishes”

As you can see, Mastercard offers 4 key conditions to support a crypto. However, there is currently no coin on the market that contains all these four features.. This means that by the end of the year, nations will implement the legal regulations related to cryptocurrencies.

Related news: Good news from Visa to cryptographers!

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