Lack of Crypto-Native Channels Allow Visa and MasterCard to Dominate 100% of Crypto Card Market

Visa now accounts for 72% of all payments made via crypto cards, and MasterCard is the second-largest player with a 28% market share.

In the absence of any crypto-specific payment channel, decentralized spending is again choosing centralized partners.

Preference for fiat money-based settlement (due to crypto volatility) by vendors is the main driver of growth for Visa and MasterCard.

The myth of spending your crypto discreetly might be at risk, as Visa is an AML-compliant institution in most countries.

For those seeking to avoid any tax liabilities, the crypto card path seems closed.

Source: https://bfmtimes.com/visa-and-mastercard-dominate-100-crypto-card-market/