Visa and Mastercard Suspend Expansion of Crypto-related Initiatives
Visa and Mastercard have announced they will suspend the expansion of their cryptocurrency initiatives. The two payment giants had been exploring the possibility of using digital assets as a payment method.
The decision was made due to the volatile nature of cryptocurrency, which can lead to significant losses for consumers. Visa and Mastercard have noted that there is still much to learn about the digital asset space, and that they will continue to monitor it and work with partners on potential future initiatives.
The decision to suspend initiatives comes as many countries are beginning to explore the potential of digital assets. Central banks in the UK and US have already announced their plans to launch their own digital currencies, and other countries are expected to follow suit.
It remains to be seen whether Visa and Mastercard’s decision to suspend their initiatives will have any long-term effects on the cryptocurrency market.
