Mastercard To Cover Cryptocurrency, NFTs, Open Banking

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Mastercard announced the expansion of its consulting services to include NFT and digital currency risk assessment. The move will create actionable strategies for the development of crypto credit cards and crypto loyalty programs.

Mastercard has always been very vocal in its support for cryptocurrencies.

Mastercard CEO Michael Miebach announced in a conference call that he will work with Coinbase to enable the purchase of NFTs without first having to buy Ethereum (ETH) or own a digital wallet. Mastercard customers will likely be able to do all this once Coinbase launches its NFT marketplace at an unspecified date.

In addition, Mastercard continues to strive to help businesses make proper use of Open Banking by leveraging its “data-driven insights, advisory, and product development services” to develop actionable strategies.

Open banking could allow for more seamless transfer of accounts between banks, more efficient matching of consumers with financial products, and better credit conditions based on more accurate reports on consumer financial status. This could also allow better fraud monitoring for small businesses due to a more interconnected financial network.

For more information, read the original story in ZDNet. 

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