Mastercard Helps Banks Offer Crypto Trading — Cryptocurrencies Are “Really Going Mainstream,” An Executive Says.

Payments giant Mastercard has introduced a new program called Crypto Source that allows financial institutions to offer cryptocurrency trading and other related services to their customers. Mastercard has partnered with the Paxos Trust Company to support this program. A Mastercard executive says cryptocurrencies are “really going mainstream.”

Mastercard Helps Banks Offer Encryption Services

Mastercard has introduced a new program called Crypto Source Monday. This program brings “crypto trading capabilities to banks”.

Crypto Source has partnered with regulated and licensed cryptocurrency custody providers to “enable financial institutions to provide secure cryptocurrency trading capabilities and services to their customers,” details of the announcement are as follows: are described.

Mastercard’s financial institution partners have access to a comprehensive suite of curated cryptocurrency buying, holding and selling services powered by proven identity, cyber, security and advisory services.

“This Crypto Source offering is complemented by Mastercard Crypto Secure, bringing additional security to the crypto ecosystem,” stressed the payment company, noting that Crypto Source is currently preparing a pilot program.

Mastercard further explained that it is “expanding its partnership and working with leading regulated blockchain infrastructure platform, Paxos Trust Company” to support the program, adding:

The partnership aims for Paxos to provide cryptocurrency trading and custody services on behalf of banks, and Mastercard will leverage its technology to integrate these capabilities into the bank’s interface.

Jorn Lambert, Chief Digital Officer at Mastercard, explains: he said:

Our commitment is simple. Exploring crypto and its underlying digital asset technology to support consumer payment choices.

Speaking to CNBC about the launch of Crypto Source, Lambert said: Still a little scary for some people. He added that cryptocurrencies are “on the verge of becoming truly mainstream.”

Mastercard recently outlined five key areas it is focusing on to transform cryptocurrency into an “everyday payment method”.

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

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