MasterCard proposes to allow its cardholders to transact in specific cryptocurrencies on its network. To this end. MasterCard is engaged with central banks the world over since they are likely to launch official cryptocurrencies. MasterCard has already collaborated with Wirex and BillPay — the big cryptocurrency firms — to convert the cryptos into fiat currencies. MasterCard focuses on stablecoins which peg their value to another asset, e.g. US dollar.