In comments to the media, representatives of payment processors said that the launch of cooperation programs related to cryptocurrency assets will be postponed until market conditions and the regulatory environment improve.
“The recent high-profile setbacks in the crypto sector have been an important reminder that we have a long way to go before crypto becomes an integral part of payments and financial services,” a Visa spokesperson said.
A MasterCard spokesperson added that despite the temporary cessation of cooperation with cryptocurrency companies, payment systems “will continue to keep the underlying blockchain technologies in view, as well as their possible application to create effective systems.”
One of the oldest representatives of the market, the company American Express, which issues payment cards of the same name, said that it continues to explore options for using cryptocurrency technologies, without considering crypto assets as a strategic priority.
“In the short term, we won’t see cryptocurrency complement any of our core payment or lending services,” an AmEx spokesperson said.
Earlier, the provider of cryptocurrency services Wirex announced the conclusion of a long-term agreement with the international payment system Visa to expand the list of services in the Asia-Pacific region and the UK. While MasterCard and Web3 Immersve announced joint support for user cryptocurrency payments in the metaverse and digital platforms.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
