Yesterday, Mastercard announced that it plans to bring cryptocurrency payments to its platform.
The firm "will start supporting select cryptocurrencies directly [its] our network," according to its website. However, this is not the first time that Mastercard has tied itself to crypto.
Here is what the payments giant has allowed so far.
2015: Crypto companies attempt to issue credit cards via Mastercard without a partnership. Most attempts fail.
2015: Mastercard funds the Digital Currency Group, a major cryptocurrency and blockchain investment fund.
2016: Mastercard releases experimental blockchain APIs, intended for smart contracts and payment settlement without cryptocurrency.
2017: Mastercard expands those systems for B2B use.
2018: The firm sets up a merchant code for Bitcoin vendors, leading many to be considered "cash advance" services and resulting in extra fees.
2019: Mastercard publishes a job posting that reveals it is seeking to hire blockchain professionals.
2019: Nexo and Revolut are among the first crypto companies to launch a Mastercard-branded payment card.
2020: Bitpay, Uphold, and Wirex launch each launch a Mastercard. In the summer, Mastercard announces that it is expanding its crypto partner program, allowing more crypto companies to issue payment cards.
2020: Mastercard releases a platform for central banks to test central bank digital currencies (CBDCs).
2021: Mastercard announces today's news. It also notes that it has filed 89 blockchain patents and 285 blockchain applications pending worldwide.
