Mastercard Emerges Into Cryptocurrency Space

MasterCard which is today one of the leading global payments & technology organization has recently been issued a patent by the United States Patent and Trademark Office. This circumstance may sign the payment processor giant’s entrance into the digital currency space.

The patent specifies a new and modern accounting and registration system in which payments are accomplished from a credit card that is itself connected with a crypto-currency account. This crypto account is in its turn guaranteed by a second, fiat-expressed guarantor account to operate as an insurance mechanism in the face of sudden, volatile movements in crypto-currency prices.

The decisions that have so far been examined by usual institutions include so-named stable coins that are binded to the US dollar in order to prevent the deliberately unexpected price dynamic of virtual currencies.

Be that as it may, stable-coin decisions which look to peg themselves against conventional fiat monetary standards for the most part require a tremendous infusion of assets. From the perspective of any crypto-based payment system, this infers a conceivably costly deterrent for any pegging approach which tries to scale as a worldwide payment solution.

There has as yet been no comment by Mastercard on the patent grant, nor any confirmation with respect to its long-terms plans for the patent itself.