The real winner of the Crypto Wars is… Mastercard? 🤔; The latest nail to Meta's Metaverse coffin 😳; Crypto Winter takes another victim - a crypto exchange turned neobank 💀
FinTech is Eating the World, 19 October
Hey Everyone,
Happy Wednesday! Today’s issue is undoubtedly the best one this week so far. We’re looking at Mastercard which could be the real winner of the crypto wars (how it’s following the money, why it’s a brilliant strategy etc. + a bonus read on why MC is winning BNPL wars too + 1 on Visa), another nail to Meta’s Metaverse coffin (it’s pretty painful and reminds the storyline of Diem aka Libra aka Novi), and crypto winter’s latest victim - a crypto exchange turned neobank (& some lessons to learn + 3 bonus reads for others in the space to avoid a similar fate). Let’s jump straight into the hot stuff:
The real winner of the Crypto Wars is… Mastercard? 🤔
The news🔥 Payment network giant Mastercard MA 0.00%↑ wants to be your ultimate gate to all things crypto.
More on this 👉 The $290 billion finance powerhouse reportedly will assist financial institutions looking to offer cryptocurrency trading to their clients (like you & me).
Called Crypto Source, Mastercard will be acting as a bridge to deploy its technology to integrate crypto trading into banks’ interfaces, while Paxos - a regulated blockchain infrastructure platform - is set to provide its trading and custody services.
The product will be piloted in the first quarter of 2023 (likely in the US first) before expanding to other locations.
Why this could be huge? 🤔 This move further solidifies Mastercard’s work and ambitions in the crypto space and could be a strong catalyst for it to win the Crypto Wars.
Here’s more on that, a brief overview of all of Mastercard’s crypto offerings right now, why it makes + the takeaway:
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