#mastercard

With the integration of Multi-Token Network (MTN) and Kinexys (previously Onyx), Mastercard and JPMorgan are advancing blockchain-driven asset management.

Mastercard has rolled out its new Crypto Credentials system for P2P transactions, initially available to a limited audience on exchanges like Bit2Me, Lirium, and Mercado Bitcoin.

Mercuryo launched the virtual debit card Spend, which is powered by Mastercard and tied to a non-custodial wallet. Aimed at European users, the card operates in euros and integrates with popular payment platforms like Google Pay and Apple Pay, accessible in most regions globally.

Mastercard, in collaboration with banking giants CITI and JPMorgan, is currently testing a blockchain-based settlement system.

Tether CTO: "The launch of PayPal stablecoin doesn’t impact Tether as the firm does not serve U.S. users. If PYUSD launches in international markets, it could have a positive impact on the crypto industry and potentially erode revenues for payment giants like MasterCard and Visa." Co-founder of zkLend: "PayPal will indeed bolster the perception and acceptance of cryptocurrencies, but it can lead to a diminished market share for decentralized stablecoins, threatening the very principles of decentralization that underpin the crypto space." Analysts at JPMorgan: "This could boost Ethereum activity and enhance Ethereum’s network utility as a stablecoin/DeFi platform. PYUSD could fill the void left by the $20 billion shrinkage of Binance's BUSD stablecoin, which was forced to shut down by U.S. regulators earlier this year." Co-founder of Sei Network: "The gas fees of using PYUSD will be ridiculous, which will disincentivize its usage. To help make the user experience better, PayPal will either need to subsidize transaction costs or will need to help support PYUSD on other networks with cheaper gas fees." It's worth noting that PayPal currently serves 435 million customers globally.