Mastercard Exec: Crypto Has ‘Potential To Transform the Financial System’s Infrastructure’
Recently, Raj Dhamodharan, Executive Vice President of Blockchain / Digital Asset Products and Digital Partnerships at Mastercard, explained what his firm is doing to unlock crypto’s “potential to transform the financial system’s infrastructure”.
And from his Mastercard blog post:
“We’ve partnered with a handful of top-tier crypto-focused companies — including Paxos, Circle, Evolve and Uphold — to develop ways for people to quickly convert their crypto to fiat to make payments.“
From a recent interview given by Mastercard CFO Sachin Mehra:
“In the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy crypto. And we act as the off-ramp: When people want to cash it, we help them gain access to be able to use their crypto balances everywhere Mastercard is accepted. That’s a revenue-generating capability which has been fairly successful ever since crypto environments came up.
Let us not forget that "digital money" has been around for a few decades. That, in itself, is not the crypto revolution. What could be, are the myriad ways that financial algorithms can be created that give users direct access to independent money management. It is this latter aspect that is in danger of being regulated away - for your protection, of course.
Also, a number of crypto indexes have already been created, whether as real or theoretical asset trackers, they give hints as to what is being invested in. ;-)
...atleast I guess this guys from Visa and Co. had to go this way otherwise they were out of the game and that would cost them more than investing a little in some nice looking trap to attract more customers and don´t lose ground ;)
But anyway in some way we need them because not all business will accept crypto as a direct payment method and we all have to buy or pay for some things that don´t work with crypto (actually, hope this will change by time).
If they are the better oprion to a bank account I don´t know, guess not because they use the same restrictive methods to block you if "they" think you should not do one or the other thing with "your" crypto ;)
You may be able to answer this - as nobody else has - why don't some cryptos wrap themselves like the Eurodollar market? especially the glut of USD-pegged-coins.
This article is amusing = https://www.historyandpolicy.org/policy-papers/papers/history-of-tax-havens
those into cryptos now need to know where the shelters are - and will be.