Home Technology MasterCard Aims to Unleash the Full Potential of Blockchain Technology – Blockchain News, Opinion, TV and Jobs

MasterCard Aims to Unleash the Full Potential of Blockchain Technology – Blockchain News, Opinion, TV and Jobs

0
MasterCard Aims to Unleash the Full Potential of Blockchain Technology – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, analyst at the publicly traded digital asset broker Global Block (TSXV: BLOK).

While Bitcoin lacks volatility so far this week, staying around $21,300, institutional interest is “massive” according to BitStamp. In an interview published on Monday, Bitstamp Global CEO Jean-Baptiste Graftieaux said, “Many institutional companies are looking to take their first step into crypto,” while referring to their own institutional clients.

The CEO also commented on the regulation, saying, “Most regions and countries are considering regulating crypto. The main risk here is to ensure that the regulations are smart and promote a level playing field.

He noted how a crypto service provider wishing to do business in Europe must register with each country separately as virtual asset service provider (VASP)and that each country has its own requirements.

However, the introduction of European Commission MiCA (Markets in Crypto-Assets), which will come into effect in the next 1-2 years, will mean that there will be a country where you can establish your MiCA-compliant activities and then conduct these activities in other European countries . countries. This will help provide a holistic framework for the crypto industry in Europe.

Mastercard is working on how it can be part of the crypto race for global mass adoption, as they have partnered with Binance to launch a crypto prepaid card in Argentina. Mastercard CEO says it will allow people to spend crypto at over 90,000,000 stores. When using this card, crypto will be converted to fiat currency in real time at the point of purchase, and cardholders will earn 8% crypto cashback on all eligible purchases.

MasterCard’s plan to integrate crypto could be a revelation for rivals like Visa, which could follow in MasterCard’s footsteps to lead the payments industry in this space.

LEAVE A REPLY

Please enter your comment!
Please enter your name here