Bitcoin jumped to a record high after Mastercard and Bank of New York Mellon moved to make it easier for customers to use cryptocurrencies. From a report: The largest digital asset rose as much as 7.4% to $48,364, surpassing the all-time high reached Monday after Tesla announced it would hold $1.5 billion of the cryptocurrency on its balance sheet. The wider Bloomberg Galaxy Crypto Index also touched a record. “The crypto-asset world is bursting into the realms of traditional finance at a staggering pace,” said Simon Peters, an analyst at investment platform eToro. Mastercard singled out so-called “stablecoins,” which often peg their value to that of another asset, such as the U.S. dollar. Mastercard has already partnered with crypto card providers such as Wirex and BitPay, but has required digital currencies to be converted into fiat before processing payments for transactions on its network.

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Source: Slashdot – Bitcoin Hits Record as Mastercard, BNY Mellon Embrace Crypto