Mastercard has made it abundantly clear that they are aiming for a solid position within the crypto ecosystem. Being one of the largest payment gateways in the world, Mastercard already has a headstart. In the past, Mastercard CEO Michael Miebach, Mastercard is employing a lot of time and resources into solidifying its position among crypto entities. In the latest wave of development, Raj Seshadri from Mastercard said that they are now working with clients who offer crypto services. By educating clients about how the crypto mechanism works, Mastercard hopes to onboard more partners. Mastercard will also help clients prepare for the future and adapt to changes. At present, there are more than 2000 employees in Mastercard’s data and services division. They will continue to hire more people to strengthen their team and make it more efficient.
Mastercard and Visa have entered the crypto space with a determination to have a big impact. In the world of fiat currency, Mastercard is arguably the biggest payment gateway. To extend the same impact on the crypto space, they need to ramp up efforts and employ professionals with expertise in the concerned tech.
Apart from assisting retail clients, Mastercard is also planning to assist central banks with their CBDC plans. CBDCs are already rolling out in different parts of the world and are going to be the future of money. However, bureaucracies often lack the technical expertise needed to smoothly carry out these operations. Mastercard will assist these banks to roll out CBDCs and manage their different aspects.
