![\"Mastercard](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/08\/mastercard-768x432.jpg\")
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Mastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant\u2019s chief financial officer. Mastercard\u2019s crypto strategy \u201chas been fairly successful ever since crypto environments came up,\u201d he added.<\/strong><\/p>\n Mastercard Chief Financial Officer (CFO) Sachin Mehra shared his view on cryptocurrency in an interview published Tuesday by Bloomberg.<\/p>\n He was asked how successful Mastercard\u2019s crypto strategy has been. \u201cIn the crypto world, we play the role as an on-ramp, with people using our debit and credit products to buy crypto. And we act as the off-ramp: When people want to cash it, we help them gain access to be able to use their crypto balances everywhere Mastercard is accepted,\u201d he detailed, elaborating:<\/p>\n That\u2019s a revenue-generating capability which has been fairly successful ever since crypto environments came up.<\/p>\n<\/blockquote>\n The company previously explained<\/a> that it has plans to develop products and services in three key crypto-related areas: cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).<\/p>\n Mehra was further asked how much traction crypto assets can get as a true form of payment. \u201cFor anything to be a payment vehicle in our mind, it needs to have a store of value,\u201d he replied. \u201cIf something fluctuates in value every day, such that your Starbucks coffee today costs you $3 and tomorrow it\u2019s going to cost you $9 and the day after it\u2019s going to cost you a dollar, that\u2019s a problem from a consumer-mindset standpoint.\u201d<\/p>\n The Mastercard chief financial officer added:<\/p>\n So we view crypto more as an asset class.<\/p>\n<\/blockquote>\n \u201cBut as a payment instrument, we think stablecoins and CBDCs potentially have a little bit more runway,\u201d Mehra concluded.<\/p>\n In February, Mastercard expanded <\/a>its payments-focused consulting service to include cryptocurrency. The service covers \u201ca range of digital currency capabilities, from early-stage education, risk assessments, and bank-wide crypto and NFT strategy development to crypto cards and the design of crypto loyalty programs.\u201d<\/p>\n The payments giant filed 15 trademark applications<\/a> in April for a wide range of metaverse and non-fungible token (NFT) services. In June, the company said it is bringing its payments network to web3 and NFTs.<\/p>\nMastercard\u2019s CFO on Crypto as Asset Class vs. Means of Payment<\/h2>\n
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