With now both Mastercard & Visa to support Bitcoin we would expect many other companies, institutions & banks to join cryptocurrency in 2021
2021 has proved to be the year of Enterprise adoption in the crypto world. More and more companies are buying and adding Bitcoins and other cryptocurrencies to their balance sheet. Mastercard and Visa are the two biggest names in the global payments space. Their support to the crypto world will bring tremendous goodwill and help bring crypto to the mainstream. Both have decided to join the crypto-verse fully in 2021.
Cryptocurrencies on Mastercard Network in 2021
On Feb 10, Mastercard, in its announcement said, that they will begin supporting cryptocurrencies on their payment network. They will start with a select few cryptocurrencies only in the beginning.
The question is – Why is Mastercard taking the next step with crypto? Mastercard has observed that many of its customers have been using Mastercard debit cards to purchase cryptocurrencies. Their crypto cards have also been in huge demand among crypto enthusiasts. Hence, it was a natural step for Mastercard to adopt cryptocurrencies on its network.
Due to the increasing popularity of cryptocurrencies, Mastercard is now integrating cryptocurrencies on its network. They aim to make it easier for people to transact using cryptocurrencies on their network.
Visa Reveals Crypto & Bitcoin Roadmap
There was a time when Visa was one of the most vocal opponents of the Bitcoin and crypto community as a whole. Fast forward to 2021, Visa has become one of the biggest supporters of the crypto world, and so far, they have inked partnerships with 35 cryptocurrency platforms.
Later this year, Visa is planning to launch a Visa crypto software, which will enable users to purchase and sell cryptocurrencies. With this launch, Visa will set its position as of the key players in the crypto space. It will help Visa in its mission to increase its user base to 70 million.
Do you think that Mastercard and Visa’s support for cryptocurrencies will lead to further growth of crypto space? Let us know below in the comments.
