Amazon, Mastercard look to expand into the crypto space

American corporations Amazon and Mastercard are both looking to enter the cryptocurrency market in the near future, according to some recent reports and an official statement made by the latter.

According to Mastercard’s official blog post published on Wednesday, the payment giant plans to add support for cryptocurrencies to its network “later its year.”

“We are preparing right now for the future of crypto and payments, announcing that this year Mastercard will start supporting select cryptocurrencies directly on our network,” wrote Raj Dhamodharan, executive VP of digital asset products at Mastercard.

While the company has already partnered with external crypto payment firms such as Wirex and BitPay in the past, it still needs a bridge that would allow exchanging crypto payments back into fiat on its own network. Read More