Mastercard to Build Infrastructure for Consumer Cryptocurrency Transfers

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Summary

Mastercard announced that it is building a 'Multi-Token Network' infrastructure for cryptocurrency transfers.
This infrastructure is expected to facilitate the movement of funds between traditional finance and decentralized finance (DeFi).
Mastercard stated that it aims to realize a consumer experience on the blockchain while complying with regulations in the United States.

Mastercard is reportedly building a 'Multi-Token Network' infrastructure to enable easy cryptocurrency transfers among consumers, financial institutions, and merchants.

On the 1st (local time), Raj Dhamodharan, Mastercard's Executive Vice President of the Cryptocurrency Division, stated in an interview with Business Insider, "We are creating an environment where funds can move comfortably between traditional finance and decentralized finance (DeFi)." He added, "Our goal is to realize a consumer experience on the blockchain that fully complies with regulations in the United States," noting that the existing financial sector is very interested in creating new business models through cryptocurrency infrastructure.