Payment giant Mastercard may be taking a more moderate approach to cryptocurrencies lately, not all members of the company agree.
Mastercard’s vice president, Ann Cairns, stated at a recent conference that Bitcoin is too volatile for the company.
Mastercard announced earlier this month that it will include digital currencies in its payments. This was seen as a move that would allow Mastercard’s one billion users to enter the cryptocurrency industry. In the statements made at the time, “MasterCard is not here to suggest you start using cryptocurrencies. However, we are here to enable customers, traders and businesses to carry digital value (traditional or crypto) as they wish ”.
However, according to Cairns, it is not about to incorporate New York-based giant Bitcoin. Speaking at the Future of Money conference, Cairns criticized the use of BTC for payments due to long approval times and said:
“Bitcoin doesn’t act like a payment instrument. It is very volatile (variable) and takes too long to trade. […] You and I went for a cup of coffee and I decided to pay with Bitcoin, it could cost me 40% more when our coffee is served, and the process actually takes 10 minutes to complete. ”
Even though it overestimated the volatility, Bitcoin is indeed a volatile currency. In the last 48 hours, its price has varied between $ 51,266 and $ 44,710, with a 12% change. The leading cryptocurrency is currently trading at $ 46,907.