Who Will Win the Race of Full Crypto Integration? By DailyCoin

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Visa vs. Mastercard: who will win the race for full crypto integration?

  • The massive adoption of has resulted in giants in many industries including crypto in their roadmap for the future.
  • Global payment giants Visa (NYSE 🙂 and Mastercard (NYSE 🙂 are at the forefront of the financial sector as both come up with new developments.
  • Visa’s plan to acquire CurrencyCloud, a cross-border payments provider, and Mastercard’s decision to incorporate USDC are signs that both companies are crypto-friendly.
  • Users and analysts praise the decision, saying it makes the lives of crypto owners easier.

This year was filled with news of the rapid institutional adoption of Bitcoin and other cryptocurrencies. Digital assets have advanced into areas where traditional finance has long dominated alongside fiat.

Large companies are currently competing for the title of “most crypto-friendly”. Cryptocurrency is here to stay, and its mass adoption has resulted in cities vying to be more crypto-friendly than the rest.

Mastercard and Visa are global payment giants who changed the sector by enabling people to make international payments digitally. These titans are now getting at each other’s throats when they string together crypto-friendly guidelines.

Visa to purchase CurrencyCloud

Visa announced plans to acquire CurrencyCloud, a global cross-border payments provider powered by RippleNet.

Visa values ​​CurrencyCloud at over $ 960 million and already owns a large portion of CurrencyCloud’s equity. CurrencyCloud has been successful with over 500 customers to date as it helps banks and other financial firms perfect cross-border payments.

Visa intends with CurrencyCloud to reach new partners and users through its platform and enable larger global operations. CurrencyCloud operates in over 180 countries and Visa could take its operations to the next level.

Visa has also partnered with 50 platforms to boost crypto payments, and this year, crypto-linked card usage topped $ 1 billion in the first quarter.

Mastercard will introduce USDC for crypto payments

Mastercard has announced its first stablecoin, used as a bridge for customers making payments in cryptocurrency.

Most cryptocurrency companies convert crypto to fiat smoothly, and this is where Mastercard comes in. By integrating stablecoins, the swap is made easier and customer satisfaction is guaranteed.

USDC will be the first stablecoin used by Mastercard to deliver on the promise it made 5 months ago. It is good to allow customers to make payments from their wallets using stablecoins more easily, as their value is usually equal to the dollar.

On the downside

  • Blockchain-based payment solutions like Stellar will cause problems for Visa and Mastercard as they already have a strong foundation in crypto.
  • The current scrutiny of stablecoins can cause problems for Mastercard as regulatory policies pose an ongoing threat to crypto.

What does this mean for those involved?

The move puts the financial titans head to head as they all strive to make the transaction life of crypto holders easier.

Every transactional, cross-border payment giant has taken steps this year to expand its reach through crypto. MasterCard is currently in discussions with Evolve and the Metropolitan Commercial Bank to issue crypto cards to customers.

Visa’s crypto push has gained momentum this year as they set up 5 keys that they are close to fulfilling. It’s hard to predict who will take the lead as both of them are in tip top shape.

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