Mastercard will support cryptocurrency payments this year

Financial services company Mastercard has given fresh credibility to cryptocurrencies this week by announcing it intends to start supporting payments using them on its network this year.

Many people remain very skeptical of crypto, and who can blame them? The price of Bitcoin is far from stable, and then there's the threat of someone stealing it. Mastercard looks to be taking a cautious approach, however, and being very selective in what it chooses to support.

"We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network. This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protections and compliance," explained Raj Dhamodharan, executive vice president of Blockchain / Digital Asset Products & Digital Partnerships at Mastercard. Read more...