Although Mastercard is not a stranger in the crypto space, the company is interested in solidifying its position in the sector. During a recent earnings call, Mastercard CEO, Michael Miebach, said that the company wants to provide solutions for people who need options in the crypto space.
“What we believe we do is bring a perspective to the market as a multi-rail payment provider. We have to be in this space because people are looking for answers.”
Mastercard has repeatedly shown interest in the crypto and blockchain tech sector. The company recently announced the Mastercard Start Path, an accelerator program designed for fintech startups. The program helps fintechs involved with blockchain technology, cryptocurrency, and digital assets in general. Back in May, Mastercard onboarded Cledara, Asante Financial Services, SpendDebt, Tippy, and Moeda Seeds. Recently, it also added STACS, Taurus and Mintable, and SupraOracles.
Mastercard is also interested in supporting central bank digital currencies (CBDCs). The payments giant created a virtual testing environment for central banks to simulate all aspects of CBDCs, including issuing, distributing, and transacting these assets between end users.
According to Miebach:
“All of these countries have to make a trade-off between existing delivery of financial products and what a CBDC is solving for, whether it’s financial inclusion or cross-border payments. We have experience with all of that.”
Image Credits: Pixabay
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