Foreign payment solvers Visa and MasterCard have delayed the operation of a new strategic partnership with password companies, mainly because regulators have stepped up inspections as a result of high-profile failures in the sector, according to a report released by the Associated Press on Feb. 28. Before that, with the rise of cryptocurrency, the relationship between payment bosses and encryption companies experienced a period of warming, MasterCard sought to pay in dollar coins (USDC), and Visa set its sights on relatively stable currency settlement a few weeks before the current trend.

It is reported that Visa and MasterCard are delaying the release of some encryption-related products and services until the market situation and regulatory environment improve. It is reported that the delay is due to the uncertainty of the natural environment of management and control passwords after poor trusteeship and bankruptcy of data assets such as Celsius, FTX, Three Arrow Capital and Voyager Digital in the past year. According to a spokesman for Visa:

The recent domineering failure of the password industry is an important hint, and there is still a long way to go if passwords are to become part of mainstream payments and financial services.

In a tweet by Kay Birmingham, head of Visa merchandise, Birmingham said the Associated Press report was "incorrect" and that Visa "will continue to work with encryption companies to improve Fiat car access slopes and make breakthroughs in everyone's product roadmap to create new products that promote relatively stable Coin payments in a safe, compliant and convenient form."

Although the cryptographic ecosystem faces difficulties and variability, our view remains unchanged, that is, legally encouraged digital money operating on the public block chain may play an important role in the payment ecosystem.

Previously, both Visa and MasterCard partnered with Binance, a cryptocurrency trading center, to sell legally associated payment cards with encryption. Since 2020, Binance's cryptocurrency Visa savings card has given advance cash to residents of the European Economic area. Similarly, MasterCard and Binance show that they also issue prepaid encrypted savings cards for Mexican customers who understand the certification standards of their customers' needs.

Over the past six months, HKEx has also been embroiled in regulatory objections. On Feb. 13, blockchain infrastructure company Paxos said it would stop selling Binance stores with Binance. (BU.S.) Stabilize the currency cooperation relationship. On Feb. 8, Binance temporarily halted dollar deposits and withdrawals based on the Global Interbank Financial Industry Telecommunications Network (SWIFT) platform because of financial institution partner Signature Bank and his decision to reduce the openness of cryptocurrencies.

Upgrade: 20:50, February 28, 2023, UTC:Cuy Shefffield, the password manager of Visa, can add a statement.