- Amid crypto buzz, payments companies are embracing digital assets.
- Beyond trading, players are exploring new use cases like Bitcoin rewards and crypto payments in-store.
- Here are the leaders at Mastercard, PayPal, Square, and Visa driving the companies’ crypto strategies.
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Cryptocurrencies have become the subject of renewed hype, as Bitcoin prices soar to all-time highs. The digital currency recently surpassed the $50,000 milestone following the news of Tesla’s $1.5 billion investment in the coin.
And incumbents are taking note. On Wednesday, BlackRock’s investment chief Rick Rieder told CNBC the world’s largest asset manager has begun to “dabble” in Bitcoin at the behest of customers.
But it’s not just investors that are showing interest. Payments players are starting to embrace new use cases for cryptocurrencies, from Bitcoin rewards to enabling crypto payments in-store.
Players like Mastercard and Visa are adding cryptocurrencies to their payments networks, enabling merchants and fintechs to process and accept digital currencies. PayPal and Square, too, enable consumers to buy, sell, and hold crypto.
Here are the behind-the-scenes crypto leaders at Mastercard, PayPal, Square, and Visa driving the industry’s embrace of digital assets.