Visa, Mastercard pause crypto push in wake of industry meltdown - sources

That does not change the company's crypto strategy and focus, however, the spokesperson added.

A spokesperson for Mastercard said: "Our 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."Over the past couple of years, major card firms had warmed up to crypto as the popularity of the asset class exploded, with some touting it as the next big thing in finance.

Card companies, which pocket a small percentage of the dollar value of transactions they process, had announced multiple partnerships with crypto firms and put in place dedicated teams to explore blockchain technology.with crypto lender Nexo in April to launch what it called the world's first "crypto-backed" payment card.its global credit card agreements with FTX, just a month after announcing an expanded partnership with the exchange.

Except for Visa and MasterCard releasing statements refuting this article directly ....

Just as planned by the Biden administration.

If anything, now would be the time for $V and $MA to get into the crypto space!

LOL not quite 'Our 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.' - Mastercard $LINK

PYMcsween sell

Meltdown 😂

Harder to charge ridiculous fees and insane interest rates with a traceable chain.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: TheBlock__ - 🏆 464. / 53 Read more »

Fashion industry needs to better prioritize sustainability | Reuters VideoFashion designer Ozwald Boateng urges the fashion industry to prioritize sustainability during an exclusive interview with Reuters and Artic Basecamp at Davos. Boateng sees promise in Africa taking the lead, but a lack of capital hinders industry growth on a continent deeply impacted by climate change. The opposite of fashion is uniform I love their love of color. If only we can have the mind set to buy mostly made in Africa e.g. Ghana fashions with manufacturing backed by the government that's an undeniable variable to self generate capital in the African fashion industry
Source: Reuters - 🏆 2. / 97 Read more »

Stocks close slightly up after prior week's selloff By Reuters⚠️BREAKING: *WALL STREET BOUNCES MODESTLY AFTER LAST WEEK'S SELLOFF AS DIP BUYERS SNAP UP TECH SHARES - $DIA $SPY $QQQ $IWM 🇺🇸🇺🇸 Gotta love exit liquidity I wouldn't exactly refer to a 0.58% increase as people 'snapping up' anything......
Source: Investingcom - 🏆 450. / 53 Read more »