Visa and Mastercard pause new crypto partnerships amid regulatory uncertainty Visa Mastercard JPMorgan
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For these reasons, Visa and Mastercard have elected to delay the launch of certain crypto-related projects and services until market conditions and the regulatory environment improves. According to Thomas Hayes, chairman and managing member at investment firm Great Hill Capital, this move by Visa and Mastercard is likely a response to the absence of a clear regulatory framework for crypto which leads to a high level of uncertainty for industry participants.
In October, Visa partnered with JPMorgan to streamline cross-border payments through the use of their private blockchain networks Liink and B2B Connect. The service is now fully operational in ten countries and is projected to increase its presence to more than 30 countries by the end of 2023.
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