Mastercard in the Crypto Game
Mastercard announced that it will allow merchants to accept payments in cryptocurrencies during this year. The first sources refer that the crypto payments will be settled in the same cryptocurrency, without any declaration about which cryptos will be supported from the platform.
Before the announcement, several positive moves have been made from Mastercard towards crypto, including its partnership with Wirex and Uphold cards. Although, this partnership allowed only payment in crypto and not settlement in them, resulting the merchants never receiving the cryptos.
This move is expected to increase merchants’ willingness to accept cryptocurrencies as they will have the motive to obtain cryptocurrencies. As we know, most crypto users are not willing to spend their cryptos but keep them as investments. We will see if this action could change consumers’ behavior towards that.