Mastercard launches new crypto advisory service
Mastercard launches new crypto advisory service
Crypto

Mastercard launches new crypto advisory service

By Marco Cavicchioli - 16 Feb 2022

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Yesterday, MasterCard officially announced the launch of a new payments-focused advisory service, specifically covering Open Banking, Open Data, Cryptocurrencies and Digital Currencies, Environment, Social and Governance (ESG).

Mastercard embraces innovation

The company admits that the business world is changing a lot, with innovations generating rapid digital transformation to chase changing consumer preferences and geopolitical changes. 

The aim of the new initiative is to help companies evolve and enhance their growth

Mastercard has now been consulting for more than 20 years, both in designing multi-rail payment strategies and advising on data governance opportunities. Their Data & Services team now numbers more than 2,000 data scientists, engineers and consultants, and operates in 70 countries worldwide. In addition, this team is expanding at a rapid pace with the addition of 500 more graduates and young professionals.

Mastercard consulting services
Mastercard’s consulting services

Mastercard’s new crypto advisory service

One of the services they aim to offer is to help banks and vendors navigate the adoption of digital currencies. 

This covers a range of capabilities from initial training and risk assessments, through crypto cards and the design of crypto loyalty programmes, to the development of bank-level crypto and NFT strategies

To do this, the company has signed partnerships with digital native companies that offer cutting-edge crypto solutions. 

One of the most ambitious goals of this project is to help central banks to explore the design and implementation of digital currencies (CBDC), using Mastercard’s testing platform. In this way they could simulate various scenarios before final implementation, drawing on the company’s deep experience in payment systems, policy and regulation. 

Mastercard’s president of Data & Services, Raj Seshadri, said: 

“Payments are just the beginning. Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel and other sectors, helping them understand and navigate every challenge and opportunity thrown their way. This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next”.

 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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