MasterCard Tests Tokenized Bank Deposits, Crypto Holds Strong

Written by BTSE

June 29, 2023

Crypto Market Analysis

Trending Tokens on BTSE:

24h %








(as of  3:00 AM UTC, June 28, 2023) 


Bitcoin (BTC) has continued its stable run at around US$30,000 overnight, seeing modest gains of just 0.23%. Similarly, Ethereum has remained at over US$1,800, having also experienced very minor gains overnight. While traders await the decision on Blackrock’s ETF application, other altcoin prices continue to fluctuate, and big industry movements continue to brew. 

BTSE-listed altcoin Avocado DAO (AVG) jumped in price 12.91%, which could potentially be a reflection of positive attitudes towards its recently announced giveaway on Twitter. Meanwhile, in the same time, Qredo (QRDO) retreated 14.32% to $0.08503.

Meanwhile, some big international news for crypto surfaced from MasterCard overnight last night. The company announced testing for a new project it calls a “Multi-Token Network”. The testing primarily involves an investigation into the viability of tokenized bank deposits. According to Raj Dhamodharan, “What powers the global economy today is regulated money in the banks” – and through tokenized bank deposits, MasterCard brings “…the same level of programmability to those [tokenized deposits] as you find with digital currency in the crypto ecosystem.”

In other news, crypto-supported social app Damus recently came out mostly unscathed after a two-week long fight with Apple over Bitcoin payments in its app. The function allowed users to send each other Bitcoin directly – not through Apple Pay – which attracted accusations from Apple over breach of its App Store guidelines. After coming under fire from the crypto community – particularly Twitter CEO Jack Dorsey – Apple appears to have given in, and despite some changes to the app’s Bitcoin payments, such transfers are still allowed, which is an exciting win for the crypto community.

Going forward, many big developments that analysts expect to have large impacts on crypto prices remain in the balance. Of course, we’re referring to SEC actions against Binance and Coinbase, as well as Blackrock’s ETF application. While the results of these still remain to be seen – as always, time will tell.


Trade Bitcoin on BTSE here.

Join our Telegram news channel here.


Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at or on Twitter @BTSE_Official.

Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.

Related Articles

Stay Informed with BTSE

Join Our Newsletter

Never miss a beat with the latest updates and industry insights from BTSE.

Follow Us

Join our rapidly growing community and exclusive events!