Bitcoin comes to Mastercard and BNY Mellon
Feb. 11, 2021 7:17 AM ETBitcoin USD (BTC-USD), MAMA, BK, BTC-USDBy: Stephen Alpher, SA News Editor141 Comments
- "We are preparing right now for the future of crypto and payments, announcing that this year Mastercard (NYSE:MA) will start supporting select cryptocurrencies directly on our network," says the company.
- The move makes good on new CEO Michael Miebach's recent promise to bring digital payments "directly on our network" - see the Q4 earnings call transcript here.
- More from Mastercard: "Our philosophy on cryptocurrencies is straightforward: It’s about choice. Mastercard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value."
- Galaxy Digital chief Mike Novogratz says this development is huge, but the flow of good news for Bitcoin (BTC-USD) has been so great of late, that it's going nearly unnoticed.
- Also getting into the Bitcoin game is Bank of New York Mellon (NYSE:BK), with the WSJ reporting the custodial lender plans to custody Bitcoin for clients in the same fashion as other assets. "Digital assets are becoming part of the mainstream," says Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses.
- Bitcoin now up to $46.4K, recovering some of its sizable losses from yesterday.