Cointelegraph Editor-in-Chief Kristina Cornèr talks digital currencies with Mastercard at Global Impact Week

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Cointelegraph By Zhiyuan Sun
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Global Impact Week, an industrial event featuring fintech, politics, climate, healthcare and media innovations, began in Valencia, Spain, and runs from December 14-18. Recent figures put the attendance at 100,000, with 500 speakers and 150 live sessions. Cointelegraph editor-in-chief Kristina Cornèr virtually attended the event, moderating the panel titled Fireside Chat: Fintech Defining the Future with Mastercard’s executive VP of market development Liza Oakes. Here’s what they had to say:

Kristina Cornèr: In November, Mastercard announced the launch of crypto-funded payment cards. How do you see this opportunity unfolding in the coming months or years?

Liz Oakes: We started the service with fiat money. You can start using Mastercard to buy crypto where allowed and cash in again. This was the first step in the development of finding a fiat gateway in crypto. And the second stage is the issue of clearing compromises for perhaps hundreds of cryptocurrencies. Going forward, we look at CBDCs, stable currencies and how to support their developments.

KC: What other experiments does your company develop on crypto, such as NFTs, payments in the Metaverse, etc.?

LO: Personally, I am fascinated by NFTs, but I also recognize that there is a huge security challenge. The answer to this, which is still evolving, cannot be that of cashing in to an unconnected physical location.

KC: How do you see new developments playing a role in financial inclusion?

LO: I think I read the statistics the other day that 1% to 2% of the total [world population] participated in a crypt. So there’s a lot of money in it, but it’s a very, very low percentage demographic that feels like they can actually participate. So it’s a long way, and we’re not there yet.