Visa, Mastercard pause new crypto work after industry suffers collapses

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Visa and Mastercard are reportedly pressing pause on new crypto partnerships in the wake of stunning industry collapses

the global credit card agreements it had with FTX in the wake of the exchange's collapse.

"Recent high-profile failures in the crypto sector are an important reminder that we have a long way to go before crypto becomes a part of mainstream payments and financial services," a Visa spokesperson told Reuters, adding that Visa's crypto strategy and focus haven't changed. Reuters reported Tuesday that a Mastercard spokesperson said its efforts"continue to focus on the underlying blockchain technology and how that can be applied to help address current pain points and build more efficient systems."

 

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Visa, Mastercard pause crypto push in wake of industry meltdown - sourcesU.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry, people familiar with the matter told Reuters. Harder to charge ridiculous fees and insane interest rates with a traceable chain. Meltdown 😂 PYMcsween sell
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Mastercard and Visa set crypto plans on hold amid market decline: ReutersU.S. credit card giants Mastercard and Visa are pausing their crypto plans for the moment due to the market decline. It's a touch surprising Visa didn't do this sooner, after they registered trademarks for crypto assets in October. Jan-Feb monthly performance has been comparatively better than Oct-Dec so far. Wonder which companies will be stalling the bandwagon next? ? amberXBT another entry to the bottom thread
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