It is not so long to wait for anyone to be able to convert a cryptocurrency without unnecessary hassle and loss. The operator of one of the largest payment sets in the world – Mastercard is preparing to increase payment services and the possibilities of goods with cryptocurrency and simplify the process of converting cryptocurrencies into fiat (i.e., into classic money). This will become possible thanks to the MasterCard affiliate program (Crypto Card program) and a sequence of fintech and blockchain companies. The cooperation is aimed at ensuring that cardholders with the help of a crypto program can easily pay for services and goods with them wherever MasterCard is accepted. What are the advantages of this program?
As we know, previously, holders of such cards systematically faced other problems and overpayments when converting cryptocurrencies and making payments. Now customers will seem to have the right to choose payment services and the format of goods thanks to a simplified conversion scheme into classic money. It will be possible to convert funds on partner platforms through stablecoins – a more stable currency pegged, for example, to the reserves of the American dollar.
Usually, the costs and difficulties of converting cryptocurrency into fiat for most cryptocurrency companies were explained by its too poorly developed mechanisms. Now the mission of the new MasterCard crypto program is to save the industry from this trouble and demonstrate to consumers the benefits of using cryptocurrency and blockchain in everyday life.