According to CNBC, MasterCard the collaboration with the specialized company Paxos to allow banks to offer cryptocurrency exchange services to their clients.
The giant MasterCardwhich unveiled a product at the beginning of October that allows banks to identify suspicious transactions related to digital assets, will launch a program that allows to financial institutions easy to offer digital coin trading to individualssignals CNBC this Monday morning.
We learn that the payment card specialist has entered into a collaboration with Paxos with plans to act as bridge between banks and US stablecoin issuer and crypto custodian bank.
There are many consumers who are really fascinated by crypto, but they would feel much more confident if these services were offered by their financial institutions,” explained Jorn Lambert, digital director at Mastercard, on CNBC.
While many financial and banking heavyweights have now delved into this new asset class, only a few of them currently offer crypto investment services to retail investors, mainly for regulatory reasons.
MasterCard work more and more for democratization of digital tokens, including NFTs. Like its rival Visa, the company offers payment cards in cooperation with several exchanges. This summer it partnered with number 1 Binance with the ambition to make crypto payments more popular.
About Bitcoin was born during the subprime crisis to offer an alternative to the financial system, the token is now getting closer and closer to TradFi. “It’s hard to believe that the crypto industry will really go mainstream without embracing the financial industry as we know it,” the executive said.
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