Mastercard considered working with cryptocurrencies in 2013, which is when the first patent application was filed to process Bitcoin payments. However, a five-fold increase in value in 2014 disappointed management and the project was sent to a long box.
In 2019, the payment system had serious plans for Libra on Facebook (NASDAQ: FB), but international financial regulators prevented its launch. So Mastercard went its own way.
Today, the company owns 89 crypto patents and is awaiting approval for 285 more. These patents include methods for preserving the confidentiality of transactions, payment verification, instant blockchain processing, and refund methods (chargebacks). According to unofficial reports, Mastercard may include cryptocurrencies in its own payment system starting this year. The introduction of the service will serve as another growth engine for Bitcoin.
The regulator hopes that the introduction of cryptocurrencies will contribute to a faster economic recovery. The favorable attitude of financial institutions towards cryptocurrencies will accelerate their adoption in everyday life.
How much do you think Bitcoin will grow if Mastercard adds cryptocurrency payments? the future of the economy we already have it here it is time to take advantage of it
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