Mastercard, a leading payment processor, is set to enable the use of cryptocurrency payments on the web3 network through USD Coin (USDC) settlements. With this move, Mastercard is seeking to cater to the growing demand for cryptocurrencies and enhance payment options for users.
Through the integration of USDC settlements on the web3 network, Mastercard aims to provide users with greater flexibility and convenience in making payments, especially those who frequently transact in digital currencies. The web3 network is a decentralized ecosystem of blockchain-based applications, and the addition of USDC settlements will make it easier for users to conduct transactions on this network.
This move follows Mastercard’s recent foray into the cryptocurrency space, which has included partnerships with various cryptocurrency exchanges and the development of its own cryptocurrency payment gateway. The company’s CEO has also expressed his support for cryptocurrencies and their potential to revolutionize the financial industry.
By enabling cryptocurrency payments on the web3 network, Mastercard is positioning itself as a key player in the evolving digital payments landscape. This move is expected to further accelerate the adoption of cryptocurrencies and their integration into mainstream payment systems.