On November 8, 2021, Mastercard made an important announcement regarding their payment systems in the Asia-Pacific region. Because of the company’s partnerships with Amber Group, Coinjar, and Bitkub, anyone in the region will now be able to apply for a crypto-linked Mastercard. This will allow users to instantly convert their cryptocurrency into fiat dollars which they can spend wherever you can use a normal card. This doesn’t mean that people will be paying for their purchases in Bitcoin (BTC) or other coins, but instead Mastercard does an instant transfer from crypto to fiat. This allows for buyers to use the card at any merchant that accepts normal cards, which gives…
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With new leadership and more financial giants entering crypto, the time for regulation is now says SEC Commissioner Hester Peirce (Photo: SEC)Clear crypto regulation urgent as big finance jumps in: SEC’s ‘Crypto Mom’
Securities and Exchange Commissioner Hester Pierce believes that giants such as Tesla and MasterCard using crypto make regulating this asset class urgent
Peirce pointed out that while “there have been calls for clarity for some time, a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look.”
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BNY Mellon and Mastercard become latest big brands to back crypto
America’s oldest bank is launching a service for institutional investors, while the credit card giant plans to offer consumer-to-merchant transactions using digital assets
What’s significant with BNY Mellon’s announcement is how the bank plans to ensure that digital assets aren’t treated any differently than stocks and bonds, meaning all of these holdings will be managed through the same infrastructure. And rather than solely focusing on the likes of Bitcoin and Ethereum, it appears that BNY Mellon has few limits on the types of digital assets that it’s willing to accept.
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Mastercard has unveiled a new provenance solution to track grains along the supply chain (Photo: Pixabay/Kai Pilger)Mastercard, GrainChain partner to track goods in the supply chain
Mastercard will leverage the partnership to launch its ‘Mastercard Provenance Solution’ service
Mastercard and GrainChain will jointly trace more than 24 different commodities across Latin and North America as part of the “Mastercard Provenance Solution” service. The system will use the payment processor’s own permissioned blockchain