Bitcoin Forum

I came across a news that MasterCard is launching their own MasterCard crypto wallet. How this will influence the cryptocurrency industry?  How this is related to Facebook's Libra project that has Calibra wallet?

Here is a good update on the issue: https://www.coindesk.com/mastercard-is-building-a-team-to-develop-crypto-wallet-projects?amp

Its effect on the cryptocurrency industry, has to be the fact that it'll provide more job opportunities for blockchain developers and it's a sign of cryptocurrency adoption.

One of the crypto problem is high fees when deposit FIAT into exchanges to buy BTC or other alt coins. There are not many exchanges that has those fee to a minimum but mostly focusing on bank wire deposit, while credit cards deposit are still expensive.
This is one of the blocker people find it hard to get crypto by small amounts. If someone decided to invest few dollars monthly to crypto he quickly changes it's minds when come to realize he needs to pay high fee for deposit.

I hope Mastercard moving to crypto will change that get another step towards crypto achieve mass adoption.

My concern also is the fee but anyway, this is a big news. It's mastercard and they've been known in the industry for so many years.

With this adoption, they are already starting to hire more employees related to crypto --> https://all-stocks.net/mastercard-recruits-crypto-engineers-and-analysts-launches-crypto-card-with-nexo/

The influence here, will have to do with creating awareness of cryptocurrency to the millions of already existing customers they have and others through the mainstream media coverage. The fact is, for them to enable their users to adopt the use of their wallet they first need to make them understand how the wallet works and what's all about. By so doing, in some way they will be enlightening their customers on what cryptocurrency is all about. Which is good marketing for the cryptocommunity.

The relationship between the two wallet is that they're both centralized wallet meaning you don't have control over your private key which means the coins in the wallet isn't yours. The two wallets will be operated in the same manner all centralized wallets are been operated that means there's a high possibility of them requesting for a kYC.

There was a Visa card a few years ago called adv cash https://www.advcash.com/en/, which allowed users to have a Visa pre paid card which could be charged with Bitcoin.

That was a nice initiative, but it is not available anymore, as a few years ago visa stopped all Bitcoin related activities (afaik)

I hope his master card initiative is much more solid. I hope they are not making their own shitcoin. When will that stop? Just use Bitcoin, we don't need more coins

Woah, such a long post with so much misinformation...

1. There are working VISA cards even today. Wirex is one of them.
2. VISA didn't stop Bitcoin related activities. They have stopped their activities with Wavecrest LTD and it happened that Wavecrest was the card provider for most of the startups that offered VISA prepaid cards that can be top up with Bitcoin.
3. AdvCash just started delivering again VISA "Bitcoin cards" in Europe.