Mastercard Expands Consulting Services to Crypto

American multinational financial services corporation, Mastercard Inc, is expanding its consulting services and is making commitments to support several innovations in the cryptocurrencies market.

As announced by the Purchase, a New York-based firm, the expanded consulting service will also encompass Open Banking, Open Data, and Environment, Social & Governance (ESG).

Mastercard is a technology-driven firm, also known as one of the credit card payment giants, that is known to have a deep interest in digital currencies as the next big force in payments. Cryptocurrencies have showcased they are favourites in that they are typically faster and sometimes cheaper than traditional payment models. 

While Mastercard has come to terms and embraced these advances, the company said it is now ready to help businesses whether small or big that are contemplating a switch or an integration into digital currencies as a whole. Amongst the many ways it said it would drive home these consulting services and its overall reach to those who needed it. Mastercard noted it would be onboarding as many as 500 college graduates and young professionals, train them, and bolster its existing crop of data analysts.

“Payments are just the beginning,” says Raj Seshadri, Mastercard president of Data & Services. “Over the past 20 years, we’ve worked with our customers across banking, fintech, retail, travel, and other sectors, helping them understand and navigate every challenge and opportunity thrown their way. This evolution of consulting is in recognition of the changing world and of our changing business. It’s about helping customers navigate today’s challenges and anticipating what’s next.”

Mastercard’s prior work in the digital currency ecosystem encompasses helping both banks and Central Banks adopt digital assets. Notably, a number of Central Banks around the world utilise a Mastercard’s solution in the design and deployment of CBDCs, helping these apex banks explore all possible scenarios before actual deployment is done.

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