Mastercard’s Head Of Crypto Seeks More Partnerships Amid Growing Regulatory Scrutiny

Mastercard, one of the world’s leading payment providers, has announced its plans to expand its crypto payment card program. According to a Reuters report, the company’s head of crypto and blockchain, Raj Dhamodharan, revealed that Mastercard will be seeking more partnerships with cryptocurrency firms to increase its presence in the growing digital currency market.

Mastercard Remains Bullish on Crypto

The move comes at a time when the nascent sector is facing increased scrutiny from regulators, and banks are becoming more cautious in their dealings with digital currencies. Despite this, Mastercard appears to be confident in the potential of cryptocurrencies and is seeking to capitalize on the growing demand for digital payment options.

Mastercard’s cryptocurrency payment card program allows users to spend their digital assets at merchants that accept Mastercard payments. The program currently supports over 30 digital currencies, including Bitcoin, Ethereum, and Litecoin, and is available in over 40 countries.

In the past months, Mastercard has revealed that it has already partnered with several major exchanges, including Binance, Nexo, and Gemini, to offer crypto-linked payment cards in certain countries. These partnerships have enabled users to make payments in traditional currencies funded by their cryptocurrency holdings on the exchanges.

Raj Dhamodharan, spoke to Reuters stating that the company is committed to providing safe access to digital assets. He also mentioned that Mastercard has dozens of partners around the world that offer crypto card programs, and they are continuing to expand.

The partnership between Mastercard and Binance, one of the world’s largest exchanges, has been particularly successful. The Binance card, which allows users to spend their holdings in traditional currencies, has been well received by users and has helped to drive the adoption of cryptocurrency payments.

Despite the success of these partnerships, Mastercard’s move into the market has not been without its ch

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Author: Ronaldo Marquez

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