Coinbase Answers Circle With MasterCard Replacement Aspirations

See on Scoop.itMoney & Payments

Coinbase aims to supplant payment processors like MasterCard and Visa, CEO Brian Armstrong told the Wall Street Journal. As Armstrong hints at in the interview, altering current payment processing methods would be a huge boon to bank consumers around the world. Armstrong claims that credit card processing fees amount to $500 billion. Bitcoin will slim that number …

Faisal Khan‘s insight:

Nice read. Especially read the articles about MasterCard lobbying and the University initiative that Coinbase loaned out. I’m still trying to understand how MasterCard will embrace bitcoins. Though their are a lot of possible scenarios, they will be cannibalizing their market share and revenue in doing so. The university initiative to incentivize students to signup for a Bitcoin wallet and populate it is with $10 credit is also brilliant. 

See on www.cryptocoinsnews.com

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