Visa and Mastercard are reportedly pressing pause on new crypto partnerships in the wake of stunning industry collapses
the global credit card agreements it had with FTX in the wake of the exchange's collapse.
"Recent high-profile failures in the crypto sector are an important reminder that we have a long way to go before crypto becomes a part of mainstream payments and financial services," a Visa spokesperson told Reuters, adding that Visa's crypto strategy and focus haven't changed. Reuters reported Tuesday that a Mastercard spokesperson said its efforts"continue to focus on the underlying blockchain technology and how that can be applied to help address current pain points and build more efficient systems."
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