On Feb 10, Mastercard announced that it would begin supporting select cryptocurrencies on its payment network. The financial transaction processing company hasn’t specified which cryptocurrencies it will work with, though, and some of its requirements may preclude a number of the major ones.

Key Takeaways

  • Cryptocurrencies are becoming increasingly accepted as a form of payment, and Mastercard is joining the trend.
  • The payment processing company hasn’t disclosed which cryptocurrencies it will support, and its current requirements may exclude most (if not all) of them.
  • The move is yet another recent step in legitimizing cryptocurrency and the technology behind it.

Why Mastercard Is Taking the Next Step With Crypto

Mastercard has tracked customer usage as it relates to cryptocurrency, particularly Bitcoin. The company has seen consumers using their Mastercard debit cards to purchase crypto assets and begin to use crypto cards on its network.

With cryptocurrencies becoming more accepted as an investment and payment method, Mastercard is taking steps to make it easier for people to transact using secure digital currencies. 

The Network Will Add Crypto This Year, But There Are Obstacles

Mastercard’s announcement says that consumers will be able to