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Mastercard to Acquire BVNK to Link On-Chain Payments With Fiat Rails

According to the press release, the deal is aimed at connecting blockchain-based payments with traditional fiat money transfer infrastructure.

Summary

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Terms & Concepts
  • On-chain payments: Transactions recorded directly on a blockchain network, allowing transfers to be verified and settled on-chain.
  • Fiat rails: Traditional payment infrastructure used to move government-issued currencies through banks and payment networks.
  • Blockchain: A distributed digital ledger that records transactions across a network of computers.