MasterCard says it’s ready to support national cryptocurrencies. According to a statement made on March 19, Mastercard welcomes the idea of using national digital currencies accepted by the central bank.
MasterCard agrees to use national cryptocurrencies
The parent card of MasterCard Ari Sarker, executive director, said:
If governments want to create a national digital currency, we would be happy to accept and support them compared to anonymous cryptocurrencies.. We can accept cryptocurrencies as long as they are supported by a regulator. Because they are not anonymous, they fulfill all legal requirements. I think there will be a lot of interest in a cryptocurrency issued this way.
“All other cryptocurrencies issued anonymously are unimportant.”
Ajay Banga, CEO of MasterCard’ also made the following statements last fall:
MasterCard will contribute to government-issued digital currencies. However, all other cryptocurrencies issued anonymously without government support are “junk.”. But a centralized cryptocurrency has yet to be realized by many. A prime example of a successful government cryptocurrency is Petro, the oil-backed cryptocurrency of Venezuela, which has been hotly debated recently.
“We do not trade Bitcoin over the MasterCard network.”
Ari Sarker He said:
We do not trade Bitcoin over the MasterCard network.. We pay attention to this because of the reputation risk.
MasterCard and Visa consider BTC purchases as “cash transactions” and subject them to additional fees for cryptocurrency customers.. Mastercard applied for a patent for instant payments using the Blockchain technology in November of last year. A MasterCard spokesperson stated that MasterCard Labs has filed more than 30 “Blockchain technology and cryptocurrency-related patents.”
MasterCard is working on Blockchain technology
Ari Sarker is on the subject said:
MasterCard Labs is working on a Blockchain technology that will support a wide variety of use cases, including but not limited to interbank payments. Tracks trade finance obligations across the blockchain. This technology can provide customers and users with a strong defense against fraud, theft and securing account information.
Sarker also stated that MasterCard is running pilot programs in Singapore and Australia for its contactless payment handling system. he also added. Recently, Lloyd Banking Group and various banks in the USA such as JP Morgan Chase, Citigroup and Bank of America have banned the purchase of cryptocurrencies with credit cards.
Cointelegraph