Payments Giant Mastercard Prepares To Add Crypto Integration To Its Payment Network Soon. What does it mean?
Payments giant Mastercard is preparing to announce that thousands of banks and millions of merchants on its payment network will soon be able to integrate crypto into their products, CNBC reported. That is, millions of merchants on Mastercard's payment network will soon be able to accept cryptocurrencies and offer crypto rewards. For this, Mastercard is partnering with digital asset firm Bakkt, which will provide custody services for merchants and institutions that sign up.
With crypto integration into the Mastercard network, millions of customers will be able to use, store and spend cryptocurrency for a variety of payments, including loyalty programs and rewards. Mastercard is just one of the payment giants interested in the crypto market for a long time and it was already known that it was doing such a work, but it was wondered when it would start. Mastercard has completed its work to offer its crypto services and is ready to integrate it into its payment network. lick to see the details of the news
Many companies, especially Visa and Mastercard, were saying that there is a high demand for the crypto market from customers and merchants. Mastercard has not been able to ignore the high demand from customers and merchants and is preparing to launch its crypto service in order not to lose them. We already knew that Mastercard was going to launch its crypto service, they had work on it. What really matters is what will happen after the crypto integration takes place.
It is very important for a payment giant like Mastercard to include the crypto service in its payment network. This will make it easier for many giant banks and companies to enter the crypto market in one way or another. This step of Mastercard will accelerate the entry of giant companies such as Apple and Netflix, which have been working on the crypto market for a long time. Because they are one of the merchants using the Mastercard payment network.
In short, giant companies such as Apple and Netflix will follow this step of Mastercard in the coming months. I also think that giant companies like Apple and Netflix will announce that they will enter the crypto market this year or in the first quarter of 2022. Maybe they've already entered the crypto market, but we don't know as they haven't made a statement yet. It is also felt that institutional investments in the crypto market have increased lately, perhaps they are one of them. These developments show that the crypto market will grow even more in the coming months.
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