We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mastercard (MA) Forays Into Crypto Space With CriptanCard
Read MoreHide Full Article
Mastercard Incorporated (MA - Free Report) recently teamed up with the leading cryptocurrency trading platform, Criptan. The electronic money institution named Pecunpay, a member of Mastercard, forms part of the tie-up as well.
Shares of Mastercard lost 0.6% as on May 19.
The combined efforts have aided Mastercard in introducing its first crypto card named CriptanCard across Western Europe. The card offers its users the benefit to choose cryptocurrencies of their wish while making payments. This eliminates the need for advance refill of euros in the card.
As part of the move, Criptan will transform its cryptocurrencies into traditional fiat currency, which will then gradually make its way to the Mastercard network. Consequently, the CriptanCard will pave way for utilization of cryptocurrencies across all Mastercard accepting physical and online enterprises present worldwide.
With this card, the usage of cryptocurrencies will be stretched beyond being just an investment asset. Criptan users with cryptocurrencies can now put them to use for conducting everyday purchases per their convenience. Also, they will be able to extract cash from ATMs globally.
Furthermore, Pecunpay has played a crucial part in launch of CriptanCard. Pecunpay has facilitated the card’s integration with the former’s banking platform. This has empowered Criptan to process its transactions single-handedly.
Time and again, Mastercard has been collaborating with cryptocurrency platforms to tap the growing number of consumers entering the crypto space. It has been striving hard to bridge the gap between consumers and cryptocurrencies, which paves way for hassle-free utilization of these currencies in everyday life.
During April 2021, the cryptocurrency platform Gemini collaborated with Mastercard and digital banking firm WebBank for introducing a cryptocurrency rewards credit card.
It has to be noted that cryptocurrencies particularly bitcoins emerged to be the most popular investment assets amid the COVID-19 pandemic. In fact, the growth accelerated when increased usage of digital transactions by consumers came to the forefront amid the pandemic. Consequently, cryptocurrency gained popularity. Besides, it promotes hassle-free and cost-effective currency exchanges.
Price of bitcoin declined substantially in May, after Tesla’s (TSLA - Free Report) CEO said that the company will no more accept bitcoins as a form for payment for its cars. China also alerted against Bitcoin.
Nevertheless, this seems to be a temporary blip in the crypto market, which has been subjected to severe challenges earlier as well. Volatility has always gone hand in hand with the market. The cryptocurrency market holds ample scope for growth prospects, which has been further highlighted by the research firm Facts & Factors. Per a report of the same, the global cryptocurrency market is anticipated to witness a CAGR of 30% over the 2019-2026 period.
Another company in the same space Visa Inc. (V - Free Report) tied up with BlockFi to roll out a credit card, which reward bitcoins to clients. Also, PayPal Holdings, Inc. (PYPL - Free Report) has been undertaking steps to promote increased usage of bitcoin, and crypto development and its universal adoption.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Mastercard (MA) Forays Into Crypto Space With CriptanCard
Mastercard Incorporated (MA - Free Report) recently teamed up with the leading cryptocurrency trading platform, Criptan. The electronic money institution named Pecunpay, a member of Mastercard, forms part of the tie-up as well.
Shares of Mastercard lost 0.6% as on May 19.
The combined efforts have aided Mastercard in introducing its first crypto card named CriptanCard across Western Europe. The card offers its users the benefit to choose cryptocurrencies of their wish while making payments. This eliminates the need for advance refill of euros in the card.
As part of the move, Criptan will transform its cryptocurrencies into traditional fiat currency, which will then gradually make its way to the Mastercard network. Consequently, the CriptanCard will pave way for utilization of cryptocurrencies across all Mastercard accepting physical and online enterprises present worldwide.
With this card, the usage of cryptocurrencies will be stretched beyond being just an investment asset. Criptan users with cryptocurrencies can now put them to use for conducting everyday purchases per their convenience. Also, they will be able to extract cash from ATMs globally.
Furthermore, Pecunpay has played a crucial part in launch of CriptanCard. Pecunpay has facilitated the card’s integration with the former’s banking platform. This has empowered Criptan to process its transactions single-handedly.
Time and again, Mastercard has been collaborating with cryptocurrency platforms to tap the growing number of consumers entering the crypto space. It has been striving hard to bridge the gap between consumers and cryptocurrencies, which paves way for hassle-free utilization of these currencies in everyday life.
During April 2021, the cryptocurrency platform Gemini collaborated with Mastercard and digital banking firm WebBank for introducing a cryptocurrency rewards credit card.
It has to be noted that cryptocurrencies particularly bitcoins emerged to be the most popular investment assets amid the COVID-19 pandemic. In fact, the growth accelerated when increased usage of digital transactions by consumers came to the forefront amid the pandemic. Consequently, cryptocurrency gained popularity. Besides, it promotes hassle-free and cost-effective currency exchanges.
Price of bitcoin declined substantially in May, after Tesla’s (TSLA - Free Report) CEO said that the company will no more accept bitcoins as a form for payment for its cars. China also alerted against Bitcoin.
Nevertheless, this seems to be a temporary blip in the crypto market, which has been subjected to severe challenges earlier as well. Volatility has always gone hand in hand with the market. The cryptocurrency market holds ample scope for growth prospects, which has been further highlighted by the research firm Facts & Factors. Per a report of the same, the global cryptocurrency market is anticipated to witness a CAGR of 30% over the 2019-2026 period.
Another company in the same space Visa Inc. (V - Free Report) tied up with BlockFi to roll out a credit card, which reward bitcoins to clients. Also, PayPal Holdings, Inc. (PYPL - Free Report) has been undertaking steps to promote increased usage of bitcoin, and crypto development and its universal adoption.
Zacks Rank & Price Performance
Shares of this Zacks Rank #3 (Hold) company have gained 22.7% over a year compared with the industry’s growth of 12.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>