MasterCard International, which is considered one of the most important companies specializing in payments, announced its work on adopting payments using encrypted digital currencies this year, which constitutes an important step in front of digital currencies by obtaining great support from MasterCard.
The company will only provide support for highly reliable and reliable cryptocurrencies, according to Director of Digital Assets and Blockchain, Raj Damodran. This suggests that no currency in the market is supported, and that it is satisfied with the main currencies, such as Bitcoin, Ethereum, and Dogecoin, to name a few.
Damodran explained that the new approach in the company’s policy needs a lot of work to reach the ground, especially with the presence of laws, requirements and changes that must be made.
MasterCard used to allow payments through its cards on some platforms in order to buy digital currencies, but it did not allow these digital currencies to be received and processed on its network before that, so the new step is a fundamental change in its policy.
This step will help thousands and perhaps millions of electronic stores around the world to receive payments in cryptocurrency, especially since most stores and companies that sell their products over the Internet support MasterCard.
The move is an extension of what PayPal did earlier last year and its emphasis on supporting payment using cryptocurrencies – the largest company specializing in digital payment solutions in the world. And also after Tesla bought $ 1.5 billion in Bitcoin assets and announced a plan to receive payments for its cars in digital currencies.
It is noteworthy that MasterCard has not specified the real date for the arrival of digital currency support, and has only talked about the arrival of the support during this year, but we hope that it will be soon.