Yet another consequence of the FTX scam.
Mastercard and Visa set crypto plans on hold amid market decline: Reuters
“Recent high-profile failures in the crypto sector are an important reminder that we have a long way to go before crypto becomes a part of mainstream payments and financial services,” Reuters quoted a Visa spokesperson who added that the company is still interested in the crypto space.
More interestingly.
However, last year's Terra ecosystem collapse and FTX bankruptcy appear to have dampened enthusiasm from both firms. Visa ended its crypto debit card partnership with FTX after the collapse of the exchange. The initial plan would have seen FTX using Visa’s crypto debit cards in over 40 countries across the globe.
Just imagine how deeply an idiot such as SBF was allowed to go into the mouth of the financial beast.
Similarly,
Breaking: Visa and Mastercard halt new crypto partnerships — Report
Both quoting the original Reuters article:
Visa, Mastercard pause crypto push in wake of industry meltdown - sources
A spokesperson for Mastercard said: "Our efforts continue to focus on the underlying blockchain technology and how that can be applied to help address current pain points and build more efficient systems."
As should by now be abundantly clear to everybody, "blockchain" does not mean "crypto". The high speed and low cost of cross-border payments are what they really want.
more ghetto building.