Cryptocurrency Is More Of An Asset Class Than A Payment Method, According to Mastercard’s CFO

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Last Updated on August 4, 2022 by Bitfinsider

Sachin Mehra, the chief financial officer (CFO) of Mastercard, discussed cryptocurrencies in an interview with Bloomberg that was published on Tuesday.

He was questioned about the effectiveness of Mastercard’s cryptocurrency strategy. He said: “In the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy crypto. And we act as the off-ramp: When people want to cash it, we help them gain access to be able to use their crypto balances everywhere Mastercard is accepted,” and further added that: “That’s a revenue-generating capability which has been fairly successful ever since crypto environments came up.”

Previously, the business stated that it intended to create goods and services in the following three crucial crypto-related fields: cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).

Mehra was also questioned about the potential adoption of cryptocurrency as a legitimate payment method. To that, he said: “For anything to be a payment vehicle in our mind, it needs to have a store of value,” and “If something fluctuates in value every day, such that your Starbucks coffee today costs you $3 and tomorrow it’s going to cost you $9 and the day after it’s going to cost you a dollar, that’s a problem from a consumer-mindset standpoint.” Therefore, Mastercard sees crypto more as an asset class.

“But as a payment instrument, we think stablecoins and CBDCs potentially have a little bit more runway,” Mehra summarized.

In February, Mastercard added cryptocurrencies to its consultancy service that focuses on payments. A range of digital currency capabilities, from early-stage education, risk assessments, and the development of bank-wide crypto and NFT strategy through crypto cards and the design of crypto loyalty programs are covered by the service.

In April, the world’s largest payments company submitted 15 trademark applications for a variety of metaverse and non-fungible token (NFT) services. The business announced in June that it would expand its payments network to web3 and NFTs.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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