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Ethereum Beats Out Walmart, Mastercard To Be 25th Largest Asset In The World

Ethereum has been up with the recovery in the market, growing as fast as bitcoin in the space. This has seen the market cap of the cryptocurrency rise rapidly. While it had lost its footing in the list of top assets by market cap in the world following the price crash, it has since gained back enough of its previous value to put the digital asset above some of the largest companies on the list.

Ethereum Is Bigger Than Walmart

With a recovery above $3,200, Ethereum has once again solidified its place as one of the most valuable assets in the financial sector. Although it is only half a decade old, it continues to compete with companies that have been in operation for decades, boasting a higher market cap than others despite their widespread use around the world.

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After losing about $100 billion of its market cap following the crash that saw its fallen crumble from above $4,000 to below $3,000, it has begun to claw its way back up. At its current price, atheneum’s market cap is back up at $382.34 billion. It’s a long way from its all-time high but a significant value nonetheless, one that puts it ahead of giants like Walmart and Mastercard.

The digital asset is now sitting at 25th place on the list of the most valuable assets in the world. While this number may seem a bit low, a look through the list helps put in perspective just how large the cryptocurrency has gotten.

ETH settles above $3,200 | Source: ETHUSD on TradingView.com

Ethereum sits ahead of world-class names and brands on the list. Most of these are households names and are leaders in their various industries. Besides Walmart and Mastercard, the digital asset boasts a larger market cap than the likes of Home Depot, Alibaba, Disney, Coca-Cola, Pepsico, among others.

Where Does Bitcoin Sit?

Bitcoin is the most valuable cryptocurrency in the crypto space. Its market cap is twice as large as that of ethereum, which holds the spot for the second-largest. With a market cap of $839.60 billion, bitcoin sits considerably higher on the list compared to the number 2 cryptocurrency.

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Presently, bitcoin’s market cap places it at 9th place on the list of most valuable assets in the world. It comes out ahead of social media giant Meta (formerly Facebook), payments giant Visa, legendary investment firm Berkshire Hathaway, among a slew of others.

It is truly remarkable what assets in the crypto space have been able to achieve despite the industry being a little over a decade old. The more the space grows, the higher they will move up on the list.

Featured image from Currency.com, chart from TradingView.com

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Bitcoin Payments Card Are Coming To Asia Pacific, Courtesy Of Mastercard

Mastercard has been upping its bet in the bitcoin space of late. The payments processor, alongside its rival Visa, has realized that the future of payments will happen on the blockchain, hence it is better to get in now than later. This has put MasterCard at the forefront of development on the payments side of cryptocurrencies, propelled forward by its enormous resources that can be put towards research.

The latest in the long line of innovation in the crypto space is the launch of crypto payment cards in the Asia Pacific. The cards will help accelerate MasterCard’s effort to enable crypto payment in the world, along with buying and selling their cryptocurrencies. Users will be able to spend bitcoin and other digital currencies using the card in Asia-Pacific.

Mastercard Launches Asia-Pacific’s First Crypto Card

Mastercard announced on Monday that it would be releasing Asia Pacific’s first crypto-liked payment card. Users would be able to fund their cards using bitcoin and other cryptocurrencies, which would be automatically converted to fiat currencies, and they can use the cards to pay for goods and services wherever Mastercards are accepted. Individual customers and businesses will be able to take advantage of the cards, which offer a choice between credit, debit, or prepaid crypto cards.

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Mastercard partnered with leading digital currency companies in the region to bring this service to its customers. Coinjar, Amber Group, and Biktub were the power trio, in conjunction with Mastercard, responsible for making the cards a reality.

Crypto Mastercards were previously unavailable in APAC. However, these three companies have joined Mastercard’s Crypto Card Program, a program designed by the company to enable crypto firms to offer secure and compliant crypto payment cards to residents of the region.

Bringing Bitcoin Payments To The Forefront

While merchants and business owners have already begun to offer bitcoin and crypto payments in the region, it is still an inefficient process given the nature of cryptocurrencies. With credit, debit, or prepaid cards, customers would not have to worry about sending their cryptocurrencies to a merchant’s wallet. Instead, being able to instantly convert their cryptocurrencies and pay right away with fiat currency.

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Mastercard rolled out the product at a time when interest in crypto is at an all-time high in the region. A poll carried out in APAC saw 45% of respondents saying they would consider using crypto in the next year. This was much higher than the global average of 40%. It is the latest step in Mastercard’s mission to modernize payments systems around the globe, providing a better way for individuals and businesses to transact.

BTC continues on upward trend | Source: BTCUSD on TradingView.com

Speaking on its latest roll-out, Rama Sridhar, Executive Vice President of Digital & Emerging Partnership and New Payment Flows for Mastercard in Asia Pacific, said; “In collaboration with these partners that adhere to the same core principles that Mastercard does – that any digital currency must offer stability, regulatory compliance, and consumer protection – Mastercard is expanding what’s possible with cryptocurrencies to give people even greater choice and flexibility in how they pay.”

Featured image from Bitcoin News, chart from TradingView.com