- The payment system is already cooperating with crypto exchanges
- Mastercard is enthusiastic about blockchain technology
Payments giant Mastercard informedthat plans to expand the cryptocurrency card program. To do this, the company will look for new partners among crypto firms. The head of Mastercard said that they will cooperate with crypto companies, even though this sector is under the scrutiny of regulators.
The international payment system is already cooperating with cryptocurrency exchanges, among them: Binance, Nexo and Gemini. These integrations are aimed at creating cryptocurrency payment cards in some countries, for example, Binance cards allow users to make payments in traditional currencies using assets held on the exchange.
Mastercard’s Head of Cryptocurrency and Blockchain, Raj Damodharan, said:
“We have dozens of partners around the world that offer cryptocurrency card programs and they continue to expand, and providing secure access to cryptocurrencies is also part of our value proposition and we continue to do so”
Raj was asked if Mastercard is considering imposing limits on the amount of money that can be transferred to crypto exchanges using its payment network. He replied:
“We are not here to pick winners. We are not here to decide which transaction should go through and which should not. Mastercard is really enthusiastic about the blockchain technology behind cryptocurrencies.”
Damodharan also added that Mastercard users undergo a series of compliance checks, and the company has cryptanalysis technology.