Cybercrime could become the world's third-largest economy

Mastercard CEO: crypto replacing the dollar is "pie in the sky." Mastercard CEO Michael Miebach says the idea of crypto supplanting the dollar is "pie in the sky," and that the crypto companies are the ones coming to Mastercard, asking for co-branded cards. He expects agentic commerce to arrive the same way. Rather than AI agents building their own payment system, they get vetted and registered on the rails that already exist. "I don't think that's actually gonna come," he tells Brian Sozzi. Also: cyber crime he expects to reach $15.6 trillion by 2030, a domestic license in China, the new UAE payment switch, the K-shaped consumer, and the job he almost turned down. Timestamps 0:00 Inside Mastercard's headquarters in Purchase, New York 1:20 Sixty years old, twenty years public, and still surprising its own customers 2:30 "Plumbing is a great word," but Miebach has a better one 3:35 The leadership handover announced weeks before lockdown 5:40 Five people and a dog: running Mastercard from an empty office 7:00 The part of leadership a chief product officer never needed 8:25 It was never about the card, it was about the two circles 9:40 A domestic license in China, and where card rails physically live 10:50 "Run anything anywhere," and the new UAE payment switch 12:00 Staying a proudly US company in a fragmenting world 13:20 The one thing every government on earth agrees on 15:15 Whether the US has got easier to do business in 16:30 What Mastercard's own data says about the K-shaped consumer 18:55 Cybercrime as the third largest economy on earth 19:50 Why agentic commerce won't get its own payment system 21:00 Agent Pay: vetting an AI agent the way you vet a cardholder 21:55 Why an agent's payment may be safer than the card in your pocket 22:45 The machine-to-machine payments that may run on a blockchain 25:05 Are stablecoins transformational or nice to have 26:00 Why crypto replacing the dollar is "pie in the sky" 27:35 The ten-year strategy he says will not change 29:15 The antiquated corner of payments he expects to explode 30:20 What McLaren does for a payments company 31:15 The job he almost turned down #Mastercard #crypto #stablecoins #AI #payments #PowerPlayers #YahooFinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571

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