How Payment Giants Are Embracing Bitcoin and Blockchain

MasterCard’s participation in Digital Currency Group’s undisclosed funding round sent ripples of excitement across the crypto-sphere earlier this week.

While this is MasterCard’s first crypto-related investment, the multinational corporation is not the first mainstream finance company to dip its toe in the bitcoin and blockchain technology pool.

Banks have publicly embraced blockchain technology and prominent figures from traditional finance have also lauded its potential. But how exactly are payment giants such as MasterCard interacting with the world of crypto?

Be it through direct investment, partnerships with companies in the space or public comments on bitcoin and its underlying technology, here’s a round-up of some of the most notable interactions between payment giants and the world of crypto.

1. MasterCard


Founded: 1966

Company type: Public

Company size: Over 10,000 employees.

Reported revenue: $2.4bn net revenue for the fourth quarter of 2014 – a 14% increase versus the same period in 2013.

American payments giant MasterCard was one of 11 investors in Barry Silbert’s Digital Currency Group’s (DCG) new undisclosed funding round.

The news came months after the multinational corporation claimed the risks presented by digital currencies far outweighed the benefits in its submission to the UK Treasury’s Read more ... source: TheBitcoinNews