Mastercard to Bring ‘Select Cryptocurrencies’ to its Network Later This Year

From blockworks.co

Mastercard plans to allow its merchants to receive and settle transactions with digital assets this year, it said in a blog post late Wednesday. Mastercard currently issues cards to digital asset companies that allow their customers to spend crypto, but the settlement is still done in fiat currency. Along the way there’s still an intermediary to process the transaction and convert currencies. Mastercard’s proposal would be a dramatic change, allowing for settlement of the transaction in digital assets. “Our philosophy on cryptocurrencies is straightforward,” said Raj Dhamodharan, executive vice president for ... (full story)