Over the years, there have been a lot of financial experts who have taken up an issue with cryptocurrencies. Among many criticisms that digital assets face is that these tokens are unable to be used as a real mode of payment. It has been said that any person who holds any cryptocurrencies like Bitcoin or Ethereum rather than the paperback would not be able to use it for any real purchase.
However, Mastercard is about to change the problem once and for all. The digital payments giant has recently told media that it is going to make crypto payments possible for all its vendors and banking clients. The users of the Mastercard will now be able to access the thousands of products and services that are registered with this service.
Mastercard’s Partnership with Bakkt
Nancy Gordon is the Vice President at Bakkt Holdings. Mastercard is partnering with the cryptocurrency business to make a new service possible. Bakkt Holding is also listed with the NYSE in the same month. Gordon told the media that crypto payments are the future of the financial world, and the demand for the service has been increasing among the global community.
There are currently 2.8 million cardholders that use the services of Mastercard. In many parts of the world where a business can offer online payment services, they are likely to be affiliated with the financial giant. This foray into the digital payment industry can catapult the popularity of Mastercard light years ahead due to the increasing interest of young digital investors.
The digital investors in the United States were finally able to witness the first-ever Bitcoin tied Exchange Traded Fund (EFT) last Tuesday. Another Bitcoin ETF is posed to get a listing in the current week. Purpose Investments is the first corporation that holds the record for getting Bitcoin and Ethereum ETF listed at the Toronto Exchange.
The company has filed more applications recently to launch three more EFTs. The first one is Purpose Crypto Opportunities that tracks the performance of the publically listed digital asset and stocks. The other two are respectively Purpose Bitcoin and Ethereum Yield ETF. Both of these ETFs are going to be pegged to the relative cryptocurrencies directly and indirectly to offer monthly yields.