Celsius

Nexo

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">Mastercard said it <a aria-label="plans to expand (opens in a new tab)" href="https://www.reuters.com/technology/mastercard-seeks-expand-crypto-card-tie-ups-2023-04-28/#:~:text=LONDON%2C%20April%2028%20(Reuters),regulators%20and%20banks%20grow%20wary" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">plans to expand</a> its crypto card program by partnering with new crypto firms, regardless of regulators’ recent crackdown on the sector. The company already joined forces with major crypto exchanges, <a href="https://tokenist.com/binance-and-mastercard-to-launch-prepaid-card-in-brazil-report/" rel="dofollow" class="deco-link">including Binance</a>, Gemini, and Nexo.</p> 
<h3 id="mastercard-feeling-enthusiastic-about-crypto">Mastercard Feeling Enthusiastic About Crypto</h3> 
<p>Mastercard is looking to team up with more crypto firms to expand its crypto payment card program, despite global regulators’ ongoing scrutiny of the nascent digital asset sector.</p> 
<blockquote class="wp-block-quote"> 
 <p>“We have dozens of partners around the world who offer crypto card programmes and they continue to expand. Providing access to crypto in a safe way is also part of our value proposition and we’re continuing to do that.”</p> <cite>– Raj Dhamodharan, Mastercard’s head of crypto and blockchain told Reuters. </cite>
</blockquote> 
<p>The move suggests that the world’s second-largest credit card company intends to cling to its crypto plans after teaming up with major exchanges such as Binance, Gemini, and Nexo to issue crypto payment cards in some countries. These cards allow users to make payments in fiat currencies, funded by their crypto funds on a digital asset exchange like Binance.</p> 
<p>Reuters asked Dhamodharan whether Mastercard plans to impose a cap on the money that could be sent to crypto exchanges through its payments network. In response, he said that the company is not trying to “pick winners” nor choose “which transaction should happen or shouldn’t happen.” He also said that Mastercard already asks users to go through extensive compliance checks and that company has made notable investments in crypto analytics technology.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="banks-cautious-about-crypto-clients-after-recent-collapses">Banks Cautious About Crypto Clients After Recent Collapses</h3> 
<p>Mastercard’s plans to double down on its crypto card program come as banks become increasingly wary of crypto clients following a series of high-profile collapses in the industry, such as FTX, Celsius Network, and <a href="https://tokenist.com/luna-drops-50-in-a-day-as-ust-peg-fails/" rel="dofollow" class="deco-link">Terraform Labs</a>. As a result, the sector has come under serious scrutiny by US regulators, who argue that there is a severe lack of compliance in the crypto market.</p> 
<p>The recent <a href="https://www.reuters.com/business/finance/global-markets-banks-wrapup-1-2023-03-10/#:~:text=March%2010%20(Reuters)%20%2D%20Startup,to%20companies%20and%20investors%20stranded." target="_blank" aria-label="banking crisis (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">banking crisis</a> has forced US regulators to shutter three major crypto-friendly lenders in March, leaving crypto firms scrambling to find reliable banking partners. Silvergate Capital, Signature Bank, and Silicon Valley Bank <a href="https://tokenist.com/signature-bank-shut-down-by-us-regulators-over-systematic-risk-fears/" rel="dofollow" class="deco-link">all collapsed</a> in a matter of weeks last month, with regulators raising concerns about the soundness of bank business models that are highly exposed to crypto.</p> 
<p>In addition, crypto exchanges have also come into regulators’ crosshairs in recent months. In March, the <a aria-label="CFTC filed (opens in a new tab)" href="https://www.reuters.com/legal/crypto-exchange-binance-its-ceo-sued-by-cftc-over-regulatory-violations-2023-03-27/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">CFTC filed</a> a lawsuit against Binance, accusing the company of operating an “illegal” exchange. Similarly, the Securities and Exchange Commission (SEC) <a href="https://tokenist.com/breaking-kraken-cracks-under-sec-pressure-agrees-to-pay-30m/" rel="dofollow" class="deco-link">forced crypto bourse Kraken</a> to shut down its staking service and pay a penalty of $30 million.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Do you think Mastercard will capitalize on its crypto card program expansion, considering the current market uncertainty? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/mastercard-to-expand-crypto-card-program-despite-regulatory-turmoil/">Mastercard to Expand Crypto Card Program Despite Regulatory Turmoil</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Mastercard to Expand Crypto Card Program Despite Regulatory Turmoil

목차

Tokenist

2023년 4월 28일에 게재된 다른 기사

Unveiling the Potential of Bighbull Crypto: A Look into the Innovative Digital Asset Ecosystem

Greenidge mining forges strategic partnership with Core Scientific

Robinhood Enhances DeFi Experience with ‘Connect’ Crypto Wallet Integration

RNDR surges 50% in two days after community approved Solana expansion

SVB failure prompts Fed to rethink bank oversight policies

CBDCs are inevitable, shape them with ZKPs

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!