Mastercard to Expand Its Consulting Service in Cryptocurrencies and NFTs

Payments company Mastercard announced the expansion of its consulting service focused on new financial technologies, including cryptocurrencies, CBDC and NFT.

The firm plans to hire, in addition to the teams in data and services, 2,000 engineers and consultants, and more than 500 early-career professionals and college graduates. The division serves clients in 70 countries.

“Payments are only the beginning. For twenty years we have worked with our clients in banking, fintech, retail, travel and other sectors, helping them understand and navigate all the challenges and opportunities they face. This evolution of consulting is a recognition of changes in the world and the transformation of our business,” said Raj Seshadri, head of the division.

The company noted that its advisory services in digital assets cover a wide range of capabilities: from early education, risk assessment, and development of strategies for cryptocurrencies and NFTs to launch of payment cards and loyalty programs built on them.

According to the statement, Mastercard has established partnerships with firms specialising in digital technologies. This enables helping fintech companies to enter new markets and to commercialize their strategies.

As another facet of its consulting service, Mastercard has indicated assistance to central banks in studying and deploying CBDCs. For these purposes the company provides a testing platform to institutions where it allows them to explore various scenarios and rely on deep knowledge of payment systems, policy, regulation and governance.

In 2021, Mastercard CEO Michael Maubach said that the company intended to remain at the centre of new developments in digital assets.