Fun

Mastercard to Help Banks Offer Crypto Trading — Executive Says Crypto Is on the ‘Cusp of Really Going Mainstream’

News Feed - 2022-10-18 10:10:31

Mastercard to Help Banks Offer Crypto Trading — Executive Says Crypto Is on the "Cusp of Really Going Mainstream"


Payments giant Mastercard has introduced a new program called Crypto Source to enable financial institutions to offer crypto trading and other related services to their customers. Mastercard has partnered with Paxos Trust Company to support this program. A Mastercard executive says that crypto is on the “cusp of really going mainstream.” Mastercard to Help Banks Offer Crypto Services


Mastercard introduced a new program called Crypto Source Monday that will bring “crypto trading capabilities to banks.”


In partnership with regulated and licensed crypto custody providers, Crypto Source will “enable financial institutions to bring secure crypto trading capabilities and services to their customers,” the announcement details, elaborating: Mastercard’s financial institution partners will gain access to a comprehensive suite of buy, hold and sell services for select crypto assets, augmented with proven identity, cyber, security and advisory services.


“This Crypto Source offering is complemented by Mastercard Crypto Secure to bring additional security to the crypto ecosystem,” the payments company emphasized, noting that Crypto Source is currently being prepared for pilot programs.


Mastercard further explained that to support this program, it is “expanding its partnership and work with Paxos Trust Company, a leading regulated blockchain infrastructure platform,” adding: The partnership aims for Paxos to provide crypto-asset trading and custody services on behalf of the banks, while Mastercard will leverage its technology to integrate those capabilities into banks’ interfaces.


Jorn Lambert, chief digital officer at Mastercard, described: “Our crypto product innovations will provide choice at scale and continue to bring one-of-a-kind opportunities to financial institutions as they seek to offer new, advanced services to their customers.” He opined: Our commitment is simple – to explore crypto and the underlying digital assets technology to support consumer choice in payments.


Commenting on the Crypto Source launch, Lambert told CNBC: “There’s a lot of consumers out there that are really interested in this, and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions … It’s a little scary to some people still.” He added that crypto is on the “cusp of really going mainstream.”


Mastercard recently outlined five key areas it is focusing on in order to turn cryptocurrencies into “an everyday way to pay.” Tags in this story crypto programs, Crypto Source, MasterCard, mastercard crypto, Mastercard crypto custody, Mastercard crypto program, mastercard cryptocurrency, Mastercard Paxos, Paxos Trust Company


What do you think about Mastercard launching Crypto Source to enable banks to offer crypto trading and other related services to their customers? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Chinese Researchers Propose Asian Digital Currency to Reduce Reliance on US Dollar FINANCE | 2 days ago Chinese Digital Currency Transactions Exceed 100 Billion Yuan, Central Bank Says FINANCE | 4 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleJapan’s Police and FSA Publish a Joint Cyber Warning to Crypto Firms, Link Attacks to Lazarus Group Next articleIndia to Discuss Crypto During G20 Presidency to Establish Tech-Driven Regulatory Framework, Says Finance Minister Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Goldman Predicts US Recession Odds at 35% in 2 Years, John Mauldin Wouldn"t Be Surprised if Stocks Fell 40%

News Feed

Wu-Tang clan’s Ghostface Killah drops exclusive music as Bitcoin Ordinals
Savannah Fortis13 hours agoWu-Tang clan’s Ghostface Killah drops exclusive music as Bitcoin OrdinalsThe American rapper Ghostface Killah, known for his role in the group Wu-Tang Clan, will launch new music as Bitcoin O
Tron and Poloniex Relationship Scrutinized After Digibyte Delisting
Tron and Poloniex Relationship Scrutinized After Digibyte Delisting The crypto firm Circle recently revealed that it was spinning off the trading platform Poloniex and has since
Organic Communities in Web3 No Longer a Myth: Player Nodes in the Upland Metaverse Feature Multi-Property Takeovers
Organic Communities in Web3 No Longer a Myth: Player Nodes in the Upland Metaverse Feature Multi-Property Takeovers sponsored Online communities that develop organically are the hol
Shiba Inu Market Struggles Might Just Be The Calm Before A 400% Storm
Este artículo también está disponible en español. The once dominant Shiba Inu (SHIB) is enduring a severe cryptocurrency downturn, seeing a significant 26% price reductio
Crypto Analyst Unveils The ‘True Time To Sell It All’: Here’s When
Este artículo también está disponible en español. In an analysis shared on X, crypto analyst Astronomer (@astronomer_zero) has provided an in-depth macro outlook on Bitco
Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets
Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets On July 20, the CEO of Circle Internet Financial LLC., Je
Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses
Biggest Movers: DOGE Climbs Following Spacex News, XTZ Rebounds From Recent Losses DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex
Analyst Says These Factors Will Drive XRP Price To $1,000, But What Does Market Cap Say?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Former US solicitor general claims regulators want to ‘debank’ crypto
Turner Wright2 hours agoFormer US solicitor general claims regulators want to ‘debank’ cryptoSeveral parties have filed amicus briefs with the appellate court in support of Custodia Bank receiving approval for a mast
Ukrainian Police Bust Crypto Call Centers Defrauding Investors Across Europe
Ukrainian Police Bust Crypto Call Centers Defrauding Investors Across Europe Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union
Solaxy Presale Burns Red Hot as Whales Snatch $495K in Two Days: Best Presale Ends Tomorrow
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Best New Presales to Buy as Bullish Bitcoin Signal Promises Upcoming Bull Run
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu