Visa and Mastercard have decided to delay their plans to establish new partnerships with digital asset firms, following the bankruptcies of FTX and BlockFi. The credit card companies had previously formed multiple partnerships with crypto firms and viewed cryptocurrencies as the next big thing in finance. However, the recent developments in the crypto industry have caused the payment giants to postpone the launch of specific products and services related to cryptocurrencies until market conditions and regulatory environments improve. The U.S. regulatory landscape remains unpredictable, leaving Visa and Mastercard to reevaluate their strategies and navigate through choppy waters.
