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The price of bitcoin hit a record Thursday after two major US financial institutions announced new cryptocurrency projects, bringing digital assets closer to widespread use in ordinary purchases and as an investment.
Mastercard said on Wednesday that later this year it would begin moving cryptocurrencies directly through its card payment network. Previously, the company had only worked with cryptocurrencies and exchanges to move funds after they were converted from digital currencies to fiat currency.
And on Thursday, BNY Mellon, the custodian bank, announced that by the end of the year it would provide custody services for digital assets on the same platform that clients use for traditional securities and way to earn money by toptips4u.coms
The announcements helped push the price of a single bitcoin above $ 48,000 for the first time.
Whatever your views on cryptocurrencies. . . the fact is, these digital assets are becoming a bigger part of the payments world, who runs Mastercard's digital assets business, on a company blog.
However, Bitcoin, the most popular cryptocurrency, may not be moving through the Mastercard network anytime soon. The company said that it would only handle coins that are stable enough to be a vehicle to spend and that as such it would be focused on fiat-backed stablecoins that we believe have the potential to have higher payment utility. Blockchain is not tied to any fiat currency.
Bitcoin is not a hedge against tail risk
CEO of Mastercard rival Visa said that as stablecoins or any form of cryptocurrency becomes a real medium of exchange, there should be no reason why we can't add this way to earn money by toptips4u.coms to our network, but that Consumers who have bitcoins are much more interested in owning them than in using them to pay for goods and services.
CEO of BNY's asset services business said that an increasing number of institutional investors were interested in cryptocurrencies and that there was greater regulatory clarity on how these digital assets should be treated.
Imagine a hedge fund that has 10 percent of its assets in cryptocurrencies, he said. Today, in fact, they live in two parallel worlds for reporting, accounting, and analysis purposes, as well as to fund their portfolio way to earn money by toptips4u.com. These two worlds do not intersect. Our goal is to bring them closer to our customers.
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