America

United

Bitcoin ETF

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/mastercard-launches-new-crypto-network" data-wpel-link="internal">Mastercard Launches New Crypto Network</a><br></p>
<p style="text-align: justify">Centuries-old companies have been increasingly drawn to the world of cryptocurrencies, releasing crypto-focused products for some time. Now, Mastercard has taken a significant step by launching its own peer-to-peer (P2P) crypto network. This development, once considered a distant dream, demonstrates the financial giant’s commitment to integrating cryptocurrency into its services.</p> 
<h2 id="why-mastercard-embraced-crypto">Why Mastercard Embraced Crypto?</h2> 
<p style="text-align: justify">Not long ago, reports emerged claiming that Visa and Mastercard were planning to halt their crypto-related endeavors during bearish market phases. However, the recent approval of a <a href="https://en.bitcoinhaber.net/revival-in-the-cryptocurrency-market-a-spotlight-on-bitcoin-and-etf-dynamics" data-wpel-link="internal">Bitcoin</a> ETF by the SEC in the United States has provided legitimacy to the crypto industry. As a result, numerous <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investment firms</a> now manage billions of dollars in Bitcoin ETFs, showcasing a renewed confidence in the crypto market.</p> 
<p style="text-align: justify">Mastercard’s latest announcement reveals that the Mastercard Crypto Credential network, currently in its pilot phase, will facilitate transactions on Lirium and Mercado exchanges. This P2P platform represents the latest in a series of crypto-focused initiatives, highlighting the global acknowledgment of the benefits of cryptocurrency in cross-border payments.</p> 
<h2 id="what-drives-consumer-interest">What Drives Consumer Interest?</h2> 
<p style="text-align: justify">Walter Pimenta, Mastercard’s Vice President of Products and Engineering for Latin America and the Caribbean, noted the growing global interest in blockchain-based payment services. He emphasized the importance of providing reliable and verifiable transactions on public blockchain networks as this interest continues to surge.</p> 
<p style="text-align: justify">According to the United Nations International Organization for Migration, migrants transferred $717 billion in remittances in 2020, a figure that increased by 16% to $831 billion in 2022. Countries like El Salvador exemplify why blockchain solutions are crucial, as they offer low-cost, borderless transactions, making them highly attractive in economically marginalized regions.</p> 
<h2 id="key-insights-for-users">Key Insights for Users</h2> 
<p style="text-align: justify"> Bullet Points: </p> 
<ul> 
 <li>Mastercard’s P2P network supports transactions on Lirium and Mercado exchanges.</li> 
 <li>The network capitalizes on the advantages of crypto in reducing cross-border transaction costs.</li> 
 <li>Rapid growth in the remittance market highlights the need for innovative payment solutions.</li> 
 <li>Blockchain technology offers a secure and verifiable method for global transactions.</li> 
</ul> 
<p style="text-align: justify">As Mastercard continues to explore new avenues in the crypto space, their efforts may pave the way for broader adoption and integration of blockchain <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">technologies</a> in traditional financial systems.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/mastercard-launches-new-crypto-network" data-wpel-link="internal">Mastercard Launches New Crypto Network</a></h5>

Mastercard Launches New Crypto Network

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