Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result
Home General News

Mastercard and Visa Put Crypto Plans on Hold as Market Downturn Continues

James by James
February 28, 2023
in General News, Altcoin News
Reading Time: 1 min read
A A
0
mastercard and visa halting crypto integrations
Share on FacebookShare on Twitter
ADVERTISEMENT

In another setback for the troubled crypto industry, Visa and Mastercard have announced that they are putting their plans to establish new partnerships with digital asset firms on hold, according to Reuters. The decision comes in the wake of two major crypto firms, FTX and BlockFi, filing for bankruptcy, causing shockwaves throughout the industry. As a result, the payment giants have postponed the launch of specific crypto-related products and services until market conditions and regulatory environments improve. Previously, credit card companies had viewed cryptocurrencies as the next big thing in finance and had formed multiple partnerships with crypto firms.

Visa and Mastercard Delay Launch of Crypto-Related Services Due to Market Conditions

Visa recently expanded its partnership with FTX, only to sever ties with the firm shortly thereafter. Meanwhile, Mastercard had launched the world’s first crypto-backed payment card in collaboration with crypto lender Nexo, establishing itself as a trailblazer in the industry.

However, the US regulatory landscape remains unpredictable, making it a treacherous sea to navigate for payment giants eager to ride the crypto wave. The industry’s fluctuations have left Visa and Mastercard with no choice but to raise anchor and steer toward a safer harbor to reevaluate their strategies.

The move by Visa and Mastercard to shelve their crypto plans highlights the challenges facing the crypto industry’s mainstream adoption. Despite this setback, the payment giants remain committed to cryptocurrencies and their underlying technology, blockchain. As the industry evolves, we can expect to see innovative blockchain-based solutions emerge to solve current problems in the financial sector.

You May AlsoLike

XRP Takes The Throne As The Most Traded Altcoin on US Crypto Exchanges

XRP Takes The Throne As The Most Traded Altcoin on US Crypto Exchanges

September 21, 2023
Dogelon Mars (ELON) Emerges as the Cryptocurrency Community’s Newest Obsession

Dogelon Mars (ELON) Emerges as the Cryptocurrency Community’s Newest Obsession

September 21, 2023
Share76Tweet48
ADVERTISEMENT
Previous Post

Coinbase Rejects BUSD: Failed to Meet Listing Standards

Next Post

Regulatory Concerns: SEC Subpoenas Robinhood Over Crypto Operations

James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

Related Posts

XRP Takes The Throne As The Most Traded Altcoin on US Crypto Exchanges
Altcoin News

XRP Takes The Throne As The Most Traded Altcoin on US Crypto Exchanges

September 21, 2023
Dogelon Mars (ELON) Emerges as the Cryptocurrency Community’s Newest Obsession
Altcoin News

Dogelon Mars (ELON) Emerges as the Cryptocurrency Community’s Newest Obsession

September 21, 2023
Crypto Industry Alert: SEC’s Enforcement Chief Signals More Charges for Exchanges and DeFi
Bitcoin News

Crypto Industry Alert: SEC’s Enforcement Chief Signals More Charges for Exchanges and DeFi

September 20, 2023
Balancer Protocol Faces Security Breach, $238K Worth of Cryptocurrency Lost
Altcoin News

Balancer Protocol Faces Security Breach, $238K Worth of Cryptocurrency Lost

September 20, 2023
How To Generate Passive Income With Index Funds And ETFs
General News

How To Generate Passive Income With Index Funds And ETFs

September 19, 2023
Investing In Islamic Coin: Opportunities And Risks In The Shariah-Compliant Crypto World
Altcoin News

Investing In Islamic Coin: Opportunities And Risks In The Shariah-Compliant Crypto World

September 19, 2023
Next Post
Robinhood Crypto Trading Under SEC Investigation

Regulatory Concerns: SEC Subpoenas Robinhood Over Crypto Operations

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    Terra Classic Price Prediction: What Is an Ideal LUNC Buy Zone?

    200 shares
    Share 80 Tweet 50
  • Shiba Inu (SHIB) Records 5% Jump as Shibarium Pessimism Fades Away

    194 shares
    Share 78 Tweet 49
  • Elon Musk’s Silence And Its Impact On DOGECOIN

    194 shares
    Share 78 Tweet 49
  • Grayscale vs. SEC Decision Boosts XRP

    194 shares
    Share 78 Tweet 49
  • DogeCoin Soars With Elon Musk’s Latest Move

    194 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2023 CryptoMufasa - All Rights Reserved!

No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2023 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.