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Sources claim that Visa and Mastercard would postpone the introduction of new blockchain collaborations until the market environment improves and a more precise regulatory framework is established.
According to a Reuters article from February 28, American payment processors Visa and Mastercard have postponed the beginning of new alliances with cryptocurrency businesses because of high-profile bankruptcy cases in the sector that have raised regulatory scrutiny. In the weeks before to today’s event, Visa and Mastercard were studying stablecoin settlements and USD Coin payments, respectively, as the relationship between payment giants and cryptocurrency companies warmed.
According to reports, Visa and Mastercard are delaying the introduction of a few cryptocurrency-related goods and services until the market and the legal environment have improved. The delays, according to sources, are not related to their core business, which is still going strong, but rather to an unsteady regulatory environment for cryptocurrencies following the failure and insolvency of centralised digital asset custodial companies like Celsius, FTX, Three Arrow Capital, Voyager Digital, and others over the past year.
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