![]() While Mastercard may not yet fit the crypto stock tag, it certainly should be watched closely by those interested in crypto exposure. That could lead to more business for the company. As a highly regarded global payment brand, Mastercard’s entry into crypto could bring more credibility to the space. The growing adoption of crypto in investment and payment presents a great opportunity for Mastercard. Some 68 hedge funds increased their cumulative holdings of the stock by 7.2 million shares in the last quarter. TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Mastercard is currently Very Positive. Moreover, MA stock seems to be a favorite of Wall Street elites. The average Mastercard stock forecast of $412.24 implies over 21% upside potential. According to TipRanks’ analyst rating consensus, MA stock is a Strong Buy based on 19 Buys, one Hold, and one Sell. Wall Street professionals are bullish on Mastercard. Mastercard’s crypto business has been fairly successful so far and the company sees more growth opportunities ahead, Mastercard CFO Sachin Mehra told Bloomberg. ![]() The company’s other major crypto partners include Coinbase, Gemini, Nexo, and BitPay. Investors got a taste of the volatility in the derivatives market, where the pre-IPO price of COIN shot up to a high of 640 before crashing to 420 on. The deals with Binance and Bitso expand Mastercard’s crypto exposure. Our Xclusive Access TM connects Family Offices, Private Equity Funds, and RIAs to buyers and sellers. Bitso’s crypto credit card, powered by Mastercard, will be offered in Mexico. Bitso is a Mexican crypto platform that supports trading and other transactions. In another important crypto deal, Mastercard has partnered with Bitso on a credit card service. When paying with the card, your crypto is converted into fiat money to settle the bill. The card can be used at more than 90 million merchant locations worldwide. With the card, you can make everyday purchases with Bitcoin ( BTC-USD), Ethereum ( ETH-USD), or other cryptocurrencies. The card is initially being launched in Argentina and will be rolled out to additional markets in the future. The Binance card lets people pay with cryptocurrencies at stores that accept Mastercard. Buy or sell BitPay stock Learn more about BitPay IPO. BitPay is a fintech company and developer of tools for spending, accepting, and building with bitcoin. Binance is a leading provider of crypto services, including crypto trading. FinTech Founded: 2011 Funding to Date: 76.65MM. Mastercard’s deal with Binance involves support for a prepaid crypto card. Although Mastercard stock may not yet fit the label of a crypto stock like Coinbase ( COIN) or Riot Blockchain ( RIOT), it is increasingly on the radar of investors seeking crypto exposure. Mastercard ( MA) is growing its involvement in the crypto business, signing Binance and Bitso as its new crypto card partners.
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