Mastercard working to expand crypto card Partnerships

More adoption coming in the crypto market is good because this will contribute to the increase in demand for cryptocurrencies. The market is dependent upon supply and demand so if there is more demand then we can expect more price appreciation for the crypto. The real-time scenario can be different but I believe if more people start using crypto for payment purposes or to pay for goods and services then the demand will be way higher than we can expect. Some banks and card issuer companies are working on this area to provide more use cases of crypto in real life. We have already seen in the past how Visa and MasterCard are trying to build an ecosystem where payments can be made with ease using crypto. This always happens when one company for example visa does something good in crypto then MasterCard also follows the same and both are the leading names when we talk about card issuer companies. Both of the companies are operating globally and have got a bigger user base across the world.

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Now MasterCard as a company is looking forward to expanding its crypto partnership with many more brands which is a good sign because this way more people will be onboarded to the cryptocurrency world. We often discussed that the bear market is the best time to build and it seems like these companies are trying to do the same when they are building a bigger ecosystem through the expansion and I hope that VISA will also follow the same. MasterCard has already partnered with many brands in the past but now it seems the company is trying to expand its portfolio in the crypto segment. It is right that payment systems can be revolutionized with cryptocurrency and that is where these companies are working. We have cards that can be used for crypto payments but because of some regulation issues,, there are so many countries where these are not working however it is expected that the scenario will improve over time.

We have dozens of partners around the world who offer crypto card programs and they continue to expand," Raj Dhamodharan, Mastercard's head of crypto and blockchain, told Reuters on Thursday. Safely providing access to crypto is also part of our value proposition and we're continuing to do that.

Crypto is like digital money and certainly safety is important. Most of the banks provide debit or credit cards partners with Visa or MasterCard which means there is potential in the market where these companies can play an important role to bring more people into the crypto world. It may take a few years to see the change because this change will come in the form of more people coming on board to the crypto market and ultimately this will add value to the crypto ecosystem and increase the overall market cap.

It will also be good if many more countries allow the cards to be used for payment services and altogether it will be easy to use crypto for buying goods or paying for the different services. Maybe we can use crypto like Fiat however some countries might not be in favor of it because they do not want to get their Fiat replaced with something else like Bitcoin or any other crypto. This can be used as a way to create a set but when it comes to replacing the Fiat currency then some of the countries are not fine with it which can be one of the hurdles in the implementation of card payment using the cryptocurrencies.

With more expansion and partnership with many companies and brands maybe things can be better and some of the countries will adopt it. I have never got the opportunity to use crypto for any sort of payments however I am interested to try these and experience how I can use the crypto in real life to buy things or even pay for the services that I do using the Fiat currency.

Thank you

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