Mastercard is assembling its own cryptocurrency team

As reported by the New York Post, “Big payment companies face revolutionary pressures from the development of digital money.

“Mastercard (MA), which is partnered with Facebook (FB) on its Libra cryptocurrency announced in June, is now putting together its own cryptocurrency team.

“’Do you have the desire to work at the cutting-edge intersection of payments and cryptocurrencies?,’ Mastercard asks in a recruitment listing. Those hired will ‘monitor cryptocurrency ecosystem trends’ and ‘develop new products and solutions.’

“Mastercard is doing this because ‘it wants to be known as more than a card company; it wants to be a technology company,’ said Ted Rossman, an analyst with CreditCards.com.

“Another card expert called it ‘a smart move.’

“Bill Hardekopf, chief executive of LowCards.com, said Mastercard ‘sees there’s a lot of activity in this area. Even if it isn’t going to offer its own cryptocurrency, they know it’s important to have people who understand the subject.’

“Many other big companies are partnered in Facebook’s Libra, too. Among them are PayPal, Uber, Coinbase, Lyft, Vodafone, eBay and Spotify. Mastercard rival Visa is also involved.”

Continue to read the full story at the New York Post.

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