Credit card giant Mastercard (MA) is looking to grow its cryptocurrency team by hiring two senior executives who have expertise in blockchain technologies.
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The payments company says it is actively recruiting for a Head of Digital Assets Ecosystem Growth, and a Head of Financial Institutions (FI) Growth, both to be based within the U.S. On social media, Raj Dhamodharan, Mastercard’s head of crypto and blockchain, wrote that the company is looking to “build the next generation of payments and drive innovation across digital assets.”
The first role will oversee partnerships across the digital asset sector, working with issuers, infrastructure providers and start-ups to scale cryptocurrency solutions, says Mastercard. The second role will focus on collaborating with financial institutions to develop blockchain technologies that can help facilitate business payments, cross-border transactions, and tokenized assets.
Pushing into Crypto
Mastercard has been among the most active payment firms when it comes to pushing into cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Recently, the credit card issuer announced plans to integrate more stablecoins into its global payments network, building on existing support for Circle’s (CRCL) USDC coin.
Mastercard is also rolling out stablecoin-based cross-border transactions. The company has said that its goal is to act as a bridge between blockchain networks and traditional finance, providing regulatory clarity while enabling new business models. MA stock has gained 7% this year.
Is MA Stock a Buy?
The stock of Mastercard has a consensus Strong Buy rating among 26 Wall Street analysts. That rating is based on 22 Buy and four Hold recommendations issued in the last three months. The average MA price target of $638.91 implies 13.58% upside from current levels.
