Mastercard executive: If existing solutions cannot meet the needs, the possibility of developing their own blockchain in the future cannot be ruled out

PANews September 2nd news, according to Grégory Raymond, co-founder of The Big Whale, Christian Rau, head of European cryptocurrency at the payment giant Mastercard, said in an interview that Mastercard is gradually integrating encryption technology into its global payment network, but does not regard it as a revolutionary change. Mastercard has launched deposit/withdraw services for crypto assets and payment cards linked to crypto accounts, believing that stablecoins can accelerate settlement but cannot replace the protection features provided by traditional networks. Rau stressed that Mastercard's core strategy has always been to implement payments and collections securely and compliantly, and encryption technology is a complement to existing systems rather than a reshaping them. In addition, Mastercard is promoting the application of crypto payments in merchants with partners such as MetaMask, Bitget and MoonPay, whose crypto payment cards complete transactions by transparently converting digital assets into fiat currencies. For non-custodial wallets, Mastercard has developed a smart contract architecture that verifies funds in real time. Regarding whether to develop its own blockchain, Rau said that interoperability with existing solutions is currently prioritized, and future possibilities are not ruled out if existing solutions cannot meet the needs.