Visa & Mastercard Reportedly Hit Pause on Crypto Plans Following Market Turmoil

A picture of VISA, Mastercard behind a phone with Bitcoin logo

Visa and Mastercard have reportedly halted their plans to expand into the cryptocurrency market following a turbulent period for the industry, according to Reuters sources. The recent market meltdown has caused the two payment giants to reconsider their approach. Visa has postponed the launch of its cryptocurrency-linked credit card, while Mastercard has put on hold its project to allow users to spend cryptocurrencies at merchants that accept Mastercard.