Mastercard wants to launch crypto trading for banks with Paxos

Mastercard has announced that it wants to launch a program for banks and other financial institutions. This program should make it significantly easier to trade crypto and get crypto to the masses.

Bridge between banks and crypto trading platform

In fact, the program will act as a bridge between Paxos’ crypto trading platform and banks. Mastercard will ensure regulatory compliance and security. These are two important points for banks and other financial institutions. Mastercard’s CFO Jorn Lambert said of the new program:

There are many consumers who are really interested in this and intrigued by crypto, but would have much more confidence if those services were offered by their financial institutions.

Not Mastercard’s first crypto project

Mastercard therefore expects that as regulations continue to evolve worldwide, a higher degree of security should be available for the crypto platforms. They expect that the current problems will be solved in the coming years.

Mastercard is already doing well within the crypto world. For example, the company has already partnered with popular US cryptocurrency exchange Coinbase on NFTs and Bakkt to allow banks and traders to offer crypto-related services. According to Lambert, crypto is on the verge of going mainstream. In closing, he said the following:

It’s hard to believe that the crypto industry will truly go mainstream without embracing the financial industry as we know it.

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