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Mastercard to let banks offer crypto services to clients

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Global payments company Mastercard intends to enable financial institutions to offer crypto services to customers with its new Crypto Source program.

See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases

Fast facts

  • The program will allow financial institutions to tap into Mastercard’s partners to buy, hold and sell crypto assets through regulated custody providers.
  • Mastercard said it is expanding its existing partnership with blockchain infrastructure platform Paxos Trust Company for its crypto asset trading and custody services.
  • Crypto Source is the latest addition to a growing list of Mastercard’s crypto-related offerings for financial institutions, including security management and crypto payment cards.
  • Mastercard is currently preparing its newest crypto program for pilot trials, it said in the statement.

See related article: Mastercard launches crypto exchange risk assessment tool

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