Raj Dhamodharan – Mastercard’s Global Head of crypto and blockchain – believes that digital currencies pose no threat “at all.” Moreover, he classified them as “probably the most mature investment asset.”
Crypto: a set of multiple technologies
Payment services giant Mastercard is among the companies looking to dive deeper into the world of digital assets. Over the past few months, the company has launched numerous initiatives to promote the industry and introduce crypto-related opportunities to its customers. Last October, it authorized all banks in its network to provide Bitcoin services.
The man spearheading Mastercard’s crypto efforts is Raj Dhamodharan. In a recent interview, he doubled down on his company’s bullish stance, saying digital assets should not be considered a threat. Investors’ protection is highly important, and Mastercard is “always looking for providing choice in a safe and simple manner,” he assured.
Dhamodharan went further, saying that the nature of cryptocurrencies is unique as it is a “set of multiple technologies”. From an investor’s perspective, it’s “probably the most mature investment asset,” he said.
Touching upon bitcoin, the executive claimed that it is not just a currency but much more:
“Bitcoin is not just about the currency. It’s also about the chain. It’s also about the cryptology behind it and the decentralization and all that.
Dhamodharan also spoke highly of non-fungible tokens, describing them as a “great invention.” He ranked them as the “next mature investment asset class” after cryptocurrencies:
“The next thing to come out after these asset classes in the space is NFT. NFT is a great invention, and it’s being applied to art right now. For creators, it opens up opportunities for them to sell their creations in an unprecedented way.
Mastercard’s Crypto Endeavors in 2022
In January, the payment services provider collaborated with Coinbase to promote the NFT sector. The exchange raised hopes that the partnership will unlock new ways for users to purchase digital collectibles using their Mastercard cards:
“Through our work with Mastercard, we will be able to deliver a better customer experience on Coinbase NFT, and we plan to work to find ways to bring this opportunity to the wider ecosystem through scale and scale. Mastercard’s global network.”
Earlier this month, the fintech corporation teamed up with Nexo to introduce the first cryptocurrency card in Europe that enables clients to spend without selling their holdings.
