Mastercard to expand crypto team, hires two senior staff to advance blockchain initiatives

PANews reported on July 1 that according to CoinDesk, payment giant Mastercard is expanding its crypto business team and plans to recruit two vice president-level executives at its U.S. headquarters. The person in charge of digital asset ecosystem growth will lead the cooperation with stablecoin issuers, infrastructure providers, etc. to promote its multi-token network (MTN) and other solutions; the person in charge of financial institution growth will promote banks and other institutions to adopt blockchain technology and explore scenarios such as cross-border payments and asset tokenization.

Raj Dhamodharan, head of Mastercard's crypto business, said the company is committed to connecting traditional finance with blockchain networks, and has recently announced that it will incorporate more stablecoins into its global payment system and launch Mastercard Move, a cross-border settlement service based on USDC. This recruitment continues its active layout in the crypto field in recent years, including participating in the construction of the Paxos stablecoin network.