Continuing with its plans to grow in the crypto industry, Mastercard announced that it is expanding its activities in the consulting area focused on cryptocurrencies, NFTs, and Central bank digital currencies (CBDCs).
Mastercard announced Tuesday that the company is expanding its advisory services to help businesses and banks understand the emerging digital landscape better. The company is looking for 500 university graduates and young professionals to implement new programs.
Mastercard President of Data and Services Raj Seshadri said the financial institution would continue to help customers navigate this ever-changing world of digital finance, identify challenges and anticipate what lies ahead.
“Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel, and other sectors, helping them understand and navigate every challenge and opportunity thrown their way. This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next.”
The firm’s advisory work targets banks and merchants who need assistance in adopting cryptocurrencies. This includes helping create crypto-enabled loyalty programs and developing strategies for integrating cryptocurrencies and NFTs.
In addition, Mastercard has entered into partnerships with digital-native companies to present their customers with crypto solutions and help them enter new markets.
“Mastercard has curated partnerships with digitally native firms that offer best-of-breed solutions in cryptocurrencies and has helped fintech expand into new markets, working through go-to-market planning and commercialization strategies.”
The payments giant also focuses on helping central banks create their digital currencies (CBDCs). Mastercard’s platform will allow central banks to conduct research, testing, and consultation with experts in payment systems, regulation, and governance before launching their CBDCs.
In December 2021, Liza Oakes, Executive Vice President of Market Development at Mastercard, said the company is looking at “stable coins and how to support their developments.” Oakes also acknowledged security challenges with NFTs and mentioned that the company is developing solutions to tackle such confrontations.
Last month, Mastercard partnered with Coinbase to allow users to purchase NFTs with their credit cards without setting up a wallet and purchasing Ethereum. With this, buying NFTs on the Coinbase marketplace is simplified for crypto beginners who want to use fiat currencies such as the dollar or euro for purchasing NFTs.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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