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MasterCard Building Own Cryptocurrency Team?

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MasterCard is building its own cryptocurrency team, according to a report by New York Post.

The recruitment listing reportedly says, "Do you have the desire to work at the cutting-edge intersection of payments and cryptocurrencies?"

MasterCard is already trialling blockchain and crypto products. It recently teamed up with crypto loans company Nexo to roll out a co-branded crypto credit card, which is claimed to be the world's first. The co-branded card will help users spend the value of the digital assets held by them in the Nexo account.

Last month, MasterCard had won a patent for a payment system linking Blockchain-based assets to fiat currency accounts. The US patent is a new method to speed up digital currency payments. It is a method for managing fractional reserves of blockchain currency.

MasterCard is also in partnership with Facebook on its Libra cryptocurrency project along with MasterCard rival Visa, Coinbase, Lyft, Vodafone, eBay, Spotify, PayPal and Uber.

These companies will invest around $10 million each in the consortium to fund the development of the digital currency, Libra, which is set to be launched in 2020. MasterCard is expected to run a Libra node.

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