{"id":46411,"date":"2021-07-20T17:13:54","date_gmt":"2021-07-20T14:13:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46411"},"modified":"2025-09-01T16:16:21","modified_gmt":"2025-09-01T13:16:21","slug":"mastercard-to-simplify-crypto-to-fiat-conversion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mastercard-to-simplify-crypto-to-fiat-conversion\/","title":{"rendered":"Mastercard to simplify crypto-to-fiat conversion"},"content":{"rendered":"<p>The Mastercard payment system will expand its card program for cryptocurrency companies to simplify the conversion of digital assets into fiat. This is stated in the company&#8217;s <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210720005413\/en\/Mastercard-Creates-Simplified-Payments-Card-Offering-for-Cryptocurrency-Companies\">press release<\/a>.<\/p>\n<p>Mastercard, in partnership with Evolve Bank &#038; Trust, Paxos and Circle, will pilot a new capability that will enable a larger number of banks and cryptocurrency companies to offer cards to those who want to &#8220;spend their digital assets wherever Mastercard is accepted&#8221;.<\/p>\n<p>Partners in the initiative include Metropolitan Commercial Bank, Uphold, BitPay, Apto Payments, i2c Inc., and Galileo Financial Technologies.<\/p>\n<p>The release notes that crypto providers are currently facing difficulties in converting currencies. The new initiative is intended to address this problem.<\/p>\n<p>To facilitate the conversion of cryptocurrencies to fiat, Paxos and Circle provide the platforms. In the pilot, Circle&#8217;s stablecoin USDC will serve as a bridge for this purpose. A Mastercard spokesperson, Kathy Priebe, said <a href=\"https:\/\/www.coindesk.com\/mastercard-to-test-usdc-for-payments-as-stablecoin-scrutiny-intensifies\" title=\"https:\/\/www.coindesk.com\/mastercard-to-test-usdc-for-payments-as-stablecoin-scrutiny-intensifies\">CoinDesk<\/a> that USDC is currently the only stablecoin involved in testing.<\/p>\n<p>In February 2021, Mastercard <a href=\"https:\/\/u1f987.com\/en\/news\/mastercard-pledges-direct-support-for-cryptocurrencies\">stated plans<\/a> to open for merchants the ability to accept cryptocurrency payments directly.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mastercard plans to expand its crypto card program to simplify converting digital assets into fiat.<\/p>\n","protected":false},"author":1,"featured_media":46412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1220,70,1504],"class_list":["post-46411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-circle","tag-mastercard","tag-paxos"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46411"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46411\/revisions"}],"predecessor-version":[{"id":46413,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46411\/revisions\/46413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46412"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}