- Mastercard said it will offer support for customers to transact in some select cryptocurrencies this year.
- The card-payments firm is “actively engaging” with major central banks to launch digital currencies.
- All crypto coins won’t be supported on its network because many still lack compliance measures.
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Mastercard will begin allowing customers to use some cryptocurrencies on its network later this year, joining a handful of corporates that have embraced digital tokens.
“We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,” Raj Dhamodharan, executive vice president of digital asset products said in a blog on Wednesday.
Earlier this week, Tesla revealed a $1.5 billion bitcoin investment and said it would soon begin accepting the token as payment for its products.
Read more: A Ruffer portfolio manager invested a portion of his $4.8 billion fund in Bitcoin. Here’s what swayed him to bet on crypto – and the 2 other ways he’s hedging against worrying speculative bubbles
Mastercard already allows cardholders to spend digital assets via external platforms. But this means the transaction doesn’t actually go through its own network. But