Mastercard Opens Network to Crypto

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Mastercard Opens Network to Crypto

Digital Commerce Alliance member Mastercard announced it will offer support for select cryptocurrencies on its network in 2021. The credit-card company joins others, including payments companies, Square and PayPal, to enable new digital currencies including cryptocurrencies. The announcement comes on the heels of Tesla’s news that it will soon accept bitcoin as a form of payment.

DCA Insight

Cryptocurrencies are the next new opportunity in the payments and digital commerce industry, opening new ways for consumers and merchants to transact, as well as other players in the payments ecosystem. Moves like Mastercard is making are inevitable, but will be incremental until compliance measures are in place and trust among the mainstream is earned.