Mastercard to Expand Crypto Team, Strengthen Blockchain Partnerships and Payments

In Brief:

Mastercard is recruiting new leadership to grow its crypto business, focusing on digital asset ecosystem and financial institution growth.

The company continues to integrate stablecoins into its global payment system and enhance blockchain connections.

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Mastercard is further expanding its crypto division by recruiting two vice presidents to enhance its digital asset ecosystem and financial institution partnerships. Raj Dhamodharan, Mastercard’s head of crypto and blockchain, confirmed the recruitment efforts aimed at strengthening the company’s position in the cryptocurrency sector.

The roles include a Vice President and Head of Digital Asset Ecosystem Growth and a Vice President and Head of Financial Institution Growth, marking a strategic move to bolster Mastercard’s crypto services. These additions follow Mastercard’s recent efforts to connect traditional finance with blockchain networks, including the inclusion of stablecoins like USDC in its global payment system. The company has also launched a cross-border settlement service, Mastercard Move, based on USDC.

This move continues Mastercard’s active push into the blockchain and crypto space, including previous participation in the development of the Paxos stablecoin network. As the crypto industry evolves, Mastercard aims to solidify its role as a bridge between traditional financial institutions and the emerging digital asset ecosystem.

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