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Mastercard Joins Paxos to Help Banks Offer Crypto Trading,Financial services companies pushing deeper into crypto

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Mastercard (MA) has formed a partnership with crypto trading platform Paxos to offer a program that will help financial institutions offer cryptocurrency trading.Mastercard will help traditional financial institutions offer cryptocurrency trading by acting as an intermediary with Paxos, and providing regulatory compliance and security.

The product will reportedly be piloted in the first quarter of 2023 before expanding to other locations.Mastercard to help banks offer crypto trading, provide compliance and security.

Mastercard and its primary competitor, Visa, have both been making headway into the blockchain and cryptocurrency industry in recent weeks. Visa, meanwhile, is launching a debit card with the crypto exchange FTX in more than 40 new countries across Latin America, Europe and Asia.

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