Mastercard to support U.S. banks for cryptocurrency trading by 2023 | USA Diario

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Mastercard to support U.S. banks for cryptocurrencyUSA Diario

The circulation of cryptocurrencies should increase when 2023 starts with the implementation of a Mastercard program to support U.S. banks in the marketing and exchange of this new electronic currency.

This announcement was recently made on the CNBC news network by the Mastercard company, which is recognized worldwide for its facilities for transferring funds globally, through credit and debit cards.

How will it work?

Mastercard is expected to connect with the Paxos cryptocurrency platform and function as a bridge, just as PayPal and banks have experienced. Of course, for this, security measures and regulatory measures will be assumed by the parties.

Mastercard will be committed to this program from the first quarter of next year. Although the company itself clarifies that there is some mistrust among U.S. consumers of this asset, which is risky in the financial market, and also new. In addition, the company assures that it will work with the greatest verification of transactions and identities, and that in this sense, mechanisms will also be put in place to avoid and counteract the dangers of the eminence of money laundering.

This asset reached a capitalization of over three trillion dollars, however, it is interesting that cryptocurrency trading is reaching a new scenario, when they are going through a moment of their global market decapitalization below two million dollars. Currently, cryptocurrencies are not going through their best moment, after having contracted their global market capitalization to levels below one billion dollars. Cryptocurrency price declines are between 67% and 80%.

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