Mastercard will expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms, the company's head of crypto and blockchain said, even as the sector comes under closer scrutiny from regulators and banks grow wary.
- which had said in 2021 it would consider using crypto as a possible option to redeem reward points - said in February that it did not see crypto replacing its main payment and lending services in the near term.
Asked if Mastercard is considering imposing restrictions on the amount of money that could be transferred to crypto exchanges using its payments network, Dhamodharan said, "We're not here to pick winners. We're not here to pick which transaction should happen or shouldn't happen." He added users of Mastercard's network go through a number of compliance checks, adding that the company has invested in crypto analytics technology.
Mastercard is "really quite enthusiastic" about the underlying blockchain technology that powers cryptocurrencies, Dhamodharan said.Reporting by Elizabeth Howcroft, Editing by Louise HeavensReports on the intersection of finance and technology, including cryptocurrencies, NFTs, virtual worlds and the money driving "Web3".
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mastercard sees 'resilient consumer spending' boost earnings, revenueMastercard Inc. topped profit and revenue expectations for its latest quarter, calling out "resilient consumer spending."
Read more »
Mastercard's probe disclosure clouds profit beatMastercard Inc beat estimates for quarterly profit as consumer spending surged against a turbulent economy, but the card company's disclosure of a probe by the U.S. Justice Department unnerved investors.
Read more »
US to dock nuclear subs in South Korea for 1st time in 40 yearsPresidents Joe Biden and YoonSukYeol on Wednesday will sign an agreement that includes plans to have U.S. nuclear-armed submarines dock in South Korea for the first time in more than 40 years.
Read more »
Sisko and Worf unite to stop a crazed Klingon emperor in IDW's 'Star Trek: Day of Blood' eventJeff Spry is an award-winning screenwriter and veteran freelance journalist covering TV, movies, video games, books, and comics. His work has appeared at SYFY Wire, Inverse, Collider, Bleeding Cool and elsewhere. Jeff lives in beautiful Bend, Oregon amid the ponderosa pines, classic muscle cars, a crypt of collector horror comics, and two loyal English Setters.
Read more »
China’s Xi Makes First Call to Ukraine’s Zelensky Since Russian InvasionChinese leader Xi Jinping called Ukrainian President Volodymyr Zelensky, their first conversation since the Russian invasion more than a year ago, as Beijing attempts to portray itself as a potential peacemaker in the conflict
Read more »
US GDP misses goal as Bitcoin price seeks to erase 'ultra nasty' 7% dipBitcoin seeks to erase 'ultra nasty' prior losses with BTC price approaching $29,500.
Read more »