Mastercard Prepares to Enter Crypto Market

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Mastercard moves with the times and prepares for involvement in the cryptocurrency market. For that purpose, the company has made specific steps.

New work stations

On August 2, the company updated job offers that it currently has to fill. According to them, Mastercard is looking for, among others, a director for cryptocurrency wallets, an architect for blockchain solutions  and a vice president for product management for blockchain and cryptocurrencies. Two of these three positions are the leaders of a new team focused on implementing blockchain solutions, such as wallets. It is not known for sure what are Mastercard's plans for specific projects, but offers suggest that newly hired employees will have to identify solutions and concepts that will meet the expectations of customers and partners of the company. The candidate for the vice president of management of a blockchain product should, according to the offer, have experience in working with "current payment systems". An additional requirement is to keep abreast of emerging trends in the cryptocurrency market.

Mastercard in crypto

A payment card provider who is well-known around the world recently was to be one of the entities involved in the development of Libra. This project arouses controversy from the very beginning, mainly among politicians, but also other potential partners. So, the question arises whether the Mastercard's new ideas are aimed at supporting Facebook or building its own path in this market. It seems that Mastercard is not afraid to compete with Bitcoin. It was said that soon cryptocurrencies would begin to supersede existing payment methods. However, the opposite is happening - companies such as Visa and Mastercard themselves begin to develop blockchain solutions in their structures.