Mastercard Announces a New Advisory Service Including Cryptocurrency Adoption Strategies
In Tuesday’s announcement, Mastercard wrote that it is expanding its advisory business through services, which include an explicit commitment to the cryptocurrency space. Raj Seshadri, president of MA Data and Services, promised that as the company grows, the company will continue to help its clients navigate the financial environment.
“Over the past 20 years, we’ve worked with clients in banking, fintech, retail, travel and other industries to help them understand and navigate every challenge and opportunity,” said Seshadri. “This evolution of consulting is a nod to a changing world and our changing business. It’s about helping clients meet today’s challenges and predicting what’s coming next.”
What does it mean?
Mastercard’s crypto advisory is aimed primarily at banks and merchants who need assistance in adopting this new asset class. This includes developing a range of digital currency capabilities, from early education, risk assessment and NFT strategy development to cryptocurrency loyalty program design.
Additionally, payment service providers are partnering with “digital natives” to provide crypto solutions and help fintech companies break into the industry.
The latest development comes after news in mid-January that U.S. cryptocurrency exchange Coinbase Global Inc.
In partnership with Mastercard, it is said to “revolutionize the NFT shopping experience”. In addition, the payment processing giant also announced that it will launch cryptocurrency-related credit and debit cards for users in the Asia-Pacific region in early November 2021.