Mastercard will add support for cryptocurrency payments

Mastercard plans to provide merchants in its system with the ability to accept payments incryptocurrencies. CoinDesk writes about this with reference to a source familiar with the situation. What cryptocurrencies will be accepted and when the service will officially start working is still unknown.

Previously, Mastercard offered limitedcryptocurrency transactions in cooperation with Wirex and Uphold card issuers. Such cards support only outgoing payments and do not allow the entire settlement cycle in cryptocurrency: it is converted into fiat currency before being received by the recipient. It is assumed that, thanks to the new initiative, merchants on the Mastercard platform will be able to completely move their relationships with their customers outside the fiat system.

The source noted that most of the holdersBitcoin considers it primarily an investment, not a means of payment. In addition, according to him, the inclusion of the first cryptocurrency in the new Mastercard initiative is not guaranteed. He argues that the selection will be based on the Blockchain Collaboration Principles framework developed by Mastercard in 2019.

The document was prepared against the background of the company's withdrawal from the Libra stablecoin project and describes methods for assessing stability, consumer protection and legal compliance when choosing partners.

"Many of the 2,600 digital currencies in existence today do not meet these criteria.", - then reported Mastercard.

Subsequently, the company confirmed information about its plans for cryptocurrencies by posting a message on its blog.

“No matter what views onthe cryptocurrencies you hold - from fanatical to extreme skepticism - the fact remains: these digital assets are becoming an increasingly important part of the payments world. Right now, we are preparing for the future of cryptocurrencies and payments, announcing that Mastercard will begin supporting select cryptocurrencies directly on its network this year. This is a major change that will take a lot of work..

We will be extremely thoughtful about the choicesupported assets based on proprietary digital currency guidelines that are focused on consumer protection and legal compliance. Our philosophy on cryptocurrencies is simple: Choice matters. Mastercard is not here to recommend that you start using cryptocurrencies. We are here to enable customers, retailers and businesses to digitally move value. ”

Mastercard has been active for several yearsdiscovers the space of cryptocurrencies and blockchain, having received 89 specialized patents to date and awaiting approval of another 285. These include methods of ensuring the privacy of cryptocurrency transactions, verification of credit card payments on the blockchain, instant processing of payments on the blockchain and refunds when using cryptocurrencies ...

First implementation technology patentThe company began processing bitcoin payments back in 2013, but left it in 2015. In 2019, she organized a team of wallet developers and other people from the cryptocurrency industry and is currently also offering clients a platform for testing central bank digital currencies.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that supportDeposit and withdrawal of funds inrubles, hryvnias, dollars and euros.

The most reliable platforms with the largest cash turnover have been for several yearsthe largest cryptocurrency exchange in the world is Binance.Binance is the most popular crypto exchange in the CIS, as it hasmaximum trading volumes and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

#	Cryptocurrency exchange	Official site	Site evaluation
1	Binance (Editor's Choice)	https://binance.com	9.7
2	OKEx	https://okex.com	7.4
3	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5
5	Yobit	https://yobit.net	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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