According to Raj Dhamodharan, Mastercard’s Global Head of Crypto and Blockchain, digital currencies are not a threat. He also referred to them as,
“the most mature investment asset.”
Mastercard, the world’s largest payment processing company, is one of the corporations looking to expand its digital asset portfolio. The firm has launched a number of efforts in recent months to promote the industry and present crypto-related prospects to its clients. It allowed all banks on its network to offer bitcoin services in October.
Raj Dhamodharan is the man in charge of Mastercard’s crypto activities. In a recent interview, he reiterated his firm’s bullish approach, claiming that digital assets should not be viewed as a danger. Investor safety is critical, and Mastercard is committed to giving options in a secure and straightforward manner, he stated.
Dhamodharan went even farther, claiming that cryptocurrencies are unique in that they are a collection of technology. When it comes to Bitcoin (BTC), the executive claims that it is more than just a currency. He said,
“Bitcoin is not just about the currency. It’s also about the chain. It’s also about the cryptology behind it and the decentralization and all that.”
Non-fungible tokens were also praised by Dhamodharan, who called them a “great invention.”
“The next thing to come out after these asset classes in the space is NFT. NFT is a great invention, and it is being applied to art at the moment. For creators, it opens up opportunities for them to sell their creations in unprecedented ways.”
Mastercard’s Crypto Plans
Crypto will, without a doubt, play a big role in the upcoming future. It has already sealed its fate to be pegged with humanity’s forward stride, and giant corporations are in no mood to miss out.
In order to adapt to crypto, Mastercard has taken an aggressive campaign. CipherTrace, a blockchain intelligence firm, was bought by the payments platform late last year. It revealed last week that a cryptocurrency rewards credit card it had developed in collaboration with Gemini is now accessible in all 50 states in the US.
The payment services firm had also teamed up with Coinbase in January to boost the NFT sector. The conversation sparked hopes that the alliance will allow consumers to buy digital items with their Mastercard cards in innovative ways.
Additionally, Mastercard teamed up with Nexo earlier this month to launch Europe’s first crypto card, which allows customers to spend without surrendering their holdings.