Mehra thinks crypto could aid the global transition from cash to electronic forms of settlements, but it is still too volatile to be used as a payment method.
Sachin Mehra – Chief Financial Officer of Mastercard – believes cryptocurrencies, such as bitcoin and ether, are still too volatile to be classified as an appropriate payment instrument. On the other hand, central bank digital currencies and stablecoins could potentially fit in that role.
Despite outlining the merits of bitcoin and the alternative coins, Mehra thinks they are still too volatile to act as payment instruments employed by consumers on daily purchases: For their part, stablecoins are tokens whose value is fixed to another asset, often major fiat currencies or precious metals . Some examples include the third and the fourth biggest cryptocurrencies by market capitalization – USDT and USDC – which are both pegged to the greenback.Not long ago, Mastercard’s Global Head of crypto and blockchain – Raj Dhamodharan –that digital currencies could not harm investors “at all.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's how crypto-linked PACs are spending in Tuesday's primariesSuper PACs linked to some of crypto's biggest names are spending in primary races in Arizona, Michigan and Missouri this week.
Read more »
New York AG seeks crypto whistleblowers and 'deceived' investorsThe New York state attorney general put out a call for crypto whistleblowers on Monday, after the crypto market was upended earlier this summer.
Read more »
Country-specific crypto markets a bad idea, CZ says after gov’t talksBinance CEO Changpeng Zhao stresses the importance of high liquidity for safe markets, as countries ask for segregated order books in consultations.
Read more »
Croatian retail giant sees rise in crypto payments despite the bear marketCrypto winter in Croatia is not as cold as in other parts of the world. The country's largest supermarket chain, Konzum, experienced a massive rise in Bitcoin payments sine they started accepting crypto payments last December.
Read more »
SEC Charges 11 People in $300 Million Forsage Crypto Pyramid and Ponzi Scheme – Regulation Bitcoin NewsThe U.S. SEC has charged 4 founders and 7 promoters of Forsage, calling it 'a fraudulent crypto pyramid and Ponzi scheme.' cryptocurrency
Read more »