MasterCard and Visa invest in financial technology unicorn Plaid, which is serving Coinbase

Payment giants Mastercard and Visa have invested in an undisclosed amount of money to the financial technology unicorn Plaid, which serves encryption companies such as Coinbase, which recently valued more than $2.5 billion. Plaid co-founder and CEO Zach Perret announced the news on Monday. He said the company is creating a consumer-centric financial ecosystem that will "significantly improve the way people manage their financial lives." Currently, Plaid is designed to help users connect their bank accounts to an application and is serving customers in the encryption field such as Coinbase and wallet provider Abra.