MasterCard partners with Binance to bring cryptocurrencies to 90 million businesses

We have known that MasterCard has been taking the cryptocurrency sector very seriously for some time. And the CEO of the company, Michael Miebach, has just confirmed the excessive ambitions of the payment service.

MasterCard plans to expand its cryptocurrency services

The MasterCard CEO spoke about cryptocurrencies and blockchain in a LinkedIn post. He considers that the potential of blockchain can be “unlocked” if it becomes easier to access and use. According to him, this involves routine purchases, which would be facilitated by his company.

We work with Binance to allow people to use their crypto to make purchases in the more than 90 million businesses that accept Mastercard.»

The two giants had indeed recently joined forces to offer the Binance Card in Argentina. The idea is to extend these services all over the world term. All merchants in the MasterCard network could then indirectly accept cryptocurrencies from their customers, being paid in fiat.

👉 To read – Crypto cards: 2022 comparison of the best cards for paying in cryptocurrency

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The company is resolutely taking the blockchain turn

For Michael Miebach, the blockchain industry will be well established within five years. A position that he had already adopted last spring. When asked whether the SWIFT interbank service would still exist in five yearshe had simply answered “no”.

Still, such a clear positioning of MasterCard in favor of cryptocurrency and blockchain is of course a very strong signal of confidence. As the “crypto winter” drags on, it is seen that enthusiasm for the underlying technology has not particularly waned.

👉 On the same subject – Mastercard embeds its payment infrastructure in Web3 and NFTs

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Source: Michael Miebach via LinkedIn

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