US giants Visa and Mastercard are “freezing” plans for new partnerships with cryptocurrency companies, informed sources told Reuters.
- Advertisement -
The bankruptcies of major cryptocurrency exchange FTX and lending platform BlockFi spooked investors and increased regulatory scrutiny.
Both Visa and Mastercard have decided to postpone the launch of cryptocurrency-related products and services until market conditions and the regulatory environment improve, sources told Reuters.
“Recent high-profile failures in the cryptocurrency sector are an important reminder that we have a long way to go to make cryptocurrencies part of the mainstream payments and financial services market,” a spokesman for Visa, the world’s largest payment processor, said.
Read Also
- Advertisement -
- Mastercard and Binance Join Forces in Brazil
- Polygon and Mastercard collaboration for artists on Web3
- VISA launches cryptocurrency debit cards in +40 countries
- Visa: New app for Crypto Wallets, NFTs and Metaverse
- Venezuela gives crypto some love: Bitcoin and other cryptocurrencies exempt from some taxes for one year
Previous Articles:
- Banks reduce exposure to Bitcoin and cryptocurrencies globally to 40%, says BCBS report
- Venezuela gives crypto some love: Bitcoin and other cryptocurrencies exempt from some taxes for one year
- Coinbase drops Binance USD stablecoin, SEC crackdown to blame
- SEC Chairman Gensler Sparks Concern in Cryptocurrency Industry with His Statements on Securities Law
- Velo Labs’ VELO Token Soars 70% in Days: Who’s Behind the Next-Gen Financial Protocol?
- Advertisement -
