On Wednesday, multinational financial services corporation Master Card announced that people will be allowed to buy cryptocurrencies via its network. The service will be available later this year.
The firm told about the news in a blog post. It mentioned that regardless of different approaches towards cryptocurrencies, they are an important component in the financial world.
The company hasn't disclosed yet which assets it is planning to approve. However, the chosen currencies must be focused on consumer protection and resilience. Mastercard emphasized the stability of payments among important factors for them, so stablecoins are in accordance with their requirements.
The company has been executing DLT for a while. Now, it holds 89 blockchain patents while 285 requests are pending.
As cryptocurrencies continue to attract institutional investments, major payment companies are taking steps to include them in their services.PayPal announced the previous week offering crypto remittances for its 26 million traders after its bound crypto trading services outperformed. Earlier Visa chairman Alfred Kelly talked about the possibility of adding crypto payments.