MasterCard Executive Believes Mass Adoption Of Crypto Is Just Around The Corner
Categories: Crypto News US
MasterCard has already outlined its intention in the crypto space, offering crypto-backed credit services. The company has also registered several NFT and Metaverse trademarks. Mass Adoption Will Happen While stating that large and small corporations maintain a positive outlook on crypto, he also stated that mass adoption of digital assets and the underlying technology would happen sooner rather than later. At a webinar during Avalanche’s Powering Business with Blockchain series, Bosse stated that millions of users are sending digital assets around the world. He further stated, Few Challenges Still Exist However, optimism aside, he also acknowledged that challenges needed to be overcome for corporations to enter the market freely. According to Bosse, a lot of this boiled down to a lack of understanding about crypto amongst the senior management, issues around scalability and its commercial rationale, scalability, cost, speed, and other regulatory concerns. Crypto markets have faced a significant slowdown in recent weeks, with the decimation of the UST stablecoin and LUNA. The recent events have also given rise to fresh regulatory concerns in the crypto industry, with analysts believing that this could be the beginning of a bear market MasterCard’s Growing Interest In The Crypto Space Back in February, the payments giant had revealed plans to expand its consulting arm and begin offering dedicated services for crypto, ESG, and open banking. MasterCard cited changing consumer preferences, rapid digital transformations, and rapid geopolitical shifts as the reason behind its decision to offer new consulting services to its current crop of payment-focused services.