International payment system MasterCard has access to the blockchain for payment transactions between banks and sellers in traditional currency. This was stated by senior Vice President of Mastercard Labs Justin Pinkham.
“We do not use cryptocurrency, and not create its own digital currency, because it is fraught with issues – regulatory and legal. If you make the payment, then we can move these funds only with traditional currency,” said Pinkham.
Blockchain Mastercard is available to a limited number of banks and vendors for payments.
It is also noted that the main difference between the blockchain MasterCard is that it uses not its own cryptocurrency to the company or another digital currency and traditional Fiat currency.
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