Mastercard CEO announces the integration of cryptocurrencies into the payment system around the world

According to CEO Michael Miebach, the project will be implemented in cooperation with the Binance exchange

24.08.2022 - 08:15

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What’s new? The CEO of Mastercard payment company Michael Miebach has announced a collaboration with cryptocurrency exchange Binance, within which more than 90 million stores around the world will be able to accept cryptocurrency as payment. Miebach wrote about this on his account on the LinkedIn business network.

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What other statements have been made? Miebach believes that the full potential of blockchain technology can be unlocked by making it more accessible and easy to use. One way to achieve this is to bring cryptocurrency into everyday purchases. The payment giant’s collaboration with the cryptocurrency exchange will allow people to use digital assets to make purchases at more than 90 million stores that accept Mastercard. The parties have already begun this work in Argentina and plan to expand further.

In August, Binance and Mastercard launched plastic debit cards for Argentine citizens. Binance Card holders will be able to replenish their accounts in cryptocurrency, including bitcoins and the exchange’s native tokens Binance Coin (BNB), which are automatically converted into fiat. The project is currently in the beta phase, but according to representatives of the exchange, in the near future will be available to a wide audience.

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