It’s time to reset the Crypto market after FTX collapse, Director’s Mastercard said

Before FTX’s bankruptcy, Mastercard had a plan to join the project to support all traders with several trading exchanges to make a crypto credit card. However, after FTX’s collapse, they had been abandoned the project.  

Grace Berkery, director of startup engagement at Mastercard, indicates the collapse of FTX will ultimately benefit the industry.

“I think it’s an opportunity and time to reset,” TechCrunch reported Berkery as saying at Benzinga's Future of Crypto Event. “At Mastercard, we believe there’s a lot of promise in the underlying technology. There’s a lot happening in the space.”

She added more of an opinion the investor’s image of NFT and Metaverse’s attempt is a giant chance, especially if these are able to increase the investor royalties, including new institutional investors participating will be more aware of future monitoring of their partners' status.

Mastercard itself created the tool by launching Crypto Secure in October, where the platform uses artificial intelligence to monitor the risks associated with crypto trading sites in Mastercard's payout process.

Source Link: The Block //  TechCrunch

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