The card giant will act as a bridge between the crypto trading platform "Paxos" and banks.
This is a move by the payments giant to help bring cryptocurrency to the masses.
“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,” says Jorn Lambert, Mastercard’s chief digital officer.
Bringing Crypto to the masses
The company will announce the program on Monday the 24th October 2022. The trading platform Paxos already offers a similar service to Paypal. Mastercard and Paxos will handle all the regulatory compliance and security features, making it easier for banks to focus on onboarding customers.
There are many reasons to be optimistic as a crypto enthusiast. Moves from big companies such as Mastercard are huge steps in the mass adoption of cryptocurrency in the future.
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