Mastercard Expands Crypto Team with New Executive Roles

According to PANews, Mastercard is enhancing its cryptocurrency division by recruiting two vice president-level executives at its U.S. headquarters. The new roles include a Head of Digital Asset Ecosystem Growth, who will focus on collaborations with stablecoin issuers and infrastructure providers to advance initiatives like the Multi-Token Network (MTN). Additionally, a Head of Financial Institution Growth will work on encouraging banks and other institutions to adopt blockchain technology for cross-border payments and asset tokenization. Raj Dhamodharan, Mastercard's head of crypto and blockchain, emphasized the company's commitment to bridging traditional finance with blockchain networks. Recently, Mastercard announced plans to integrate more stablecoins into its global payment system and launched the Mastercard Move service for cross-border settlements using USDC. This recruitment effort is part of Mastercard's ongoing strategy to expand its presence in the crypto space, which includes participation in the Paxos stablecoin network development.