News Report
October 18, 2022

Mastercard and Paxos partner to help banks enable cryptocurrency trading

In Brief

Mastercard and Paxos Global announce the launch of Crypto Source

The new feature will allow banks to offer cryptocurrency trading to clients

Mastercard and Paxos partner to help banks enable cryptocurrency trading

Mastercard partners with Paxos to enable cryptocurrency trading for banks. 

Paxos Global is a New York-based regulated blockchain infrastructure company that builds transformative and transparent financial solutions. Notably, the company’s product is already used by PayPal and several banks. 

The new program, dubbed “Crypto Source,” will enable users to buy, sell, and trade crypto. Mastercard will integrate the option of cryptocurrency trading into banks’ interfaces and function as a bridge between them and Paxos. The latter, on the other hand, will provide custody services and crypto asset trading in support of banks. Additionally, Mastercard and Paxos Global will work on security and regulatory compliance. 

“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,”

said Mastercard’s Chief Digital Officer Jorn Lambert. 

The new feature is expected to be launched by the end of this year. 

It’s worth noting that Mastercard has rolled out several crypto and Web3 initiatives this year. First, the company has filed fifteen NFT and Metaverse-related trademarks for its name, slogan, and logo. Following this, Mastercard introduced an NFT payment service in partnership with notable Web3 companies Moonpay, Immutable X, The Sandbox, Nifty Gateway, Candy Digital, Spring, and Mintable. Then, the payment giant partnered with Binance to facilitate cryptocurrency payments in over ninety million stores globally and collaborated with crypto platform hi to launch the first-ever customizable NFT debit cards

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

Hot Stories
Join Our Newsletter.
Latest News

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Read More
Read more
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
News Report Technology
Bitfinex: Bitcoin Jumps 39.5% In Nine Days, Indicating Surge In Investor Interest
November 21, 2024
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
Opinion Lifestyle Markets Technology
The Rise of the UAE as a Strategic Hub for Web3 Gaming Innovation and International Collaboration
November 21, 2024
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
News Report Technology
Bybit Launches Gold & FX Treasure Hunt Competition, Offering Real Gold Rewards
November 21, 2024
Gate Group Introduces Gate Crypto Card, Offering Seamless Global Crypto Payments For EEA Residents
News Report Technology
Gate Group Introduces Gate Crypto Card, Offering Seamless Global Crypto Payments For EEA Residents
November 21, 2024