Reuters: Visa and Mastercard are suspending plans to establish new partnerships with cryptocurrency companies

ChainCatcher news, citing sources from Reuters, reports that American payment giants Visa and Mastercard are pausing plans to establish new partnerships with cryptocurrency companies. Sources say that both Visa and Mastercard have decided to delay the launch of certain cryptocurrency-related products and services until market conditions and the regulatory environment improve.

A spokesperson for Visa stated, "Recent high-profile failures in the crypto space remind us that we have a long way to go before crypto becomes a part of mainstream payments and financial services. However, this does not change the company's crypto strategy and focus." A spokesperson for Mastercard said, "We continue to focus on the underlying blockchain technology and how to apply it to help solve current pain points and build more efficient systems." (Source link)