This partnership aims to assist banks in providing cryptocurrency trading capabilities.

Mastercard is collaborating with Paxos to facilitate cryptocurrency trading for banks.

Paxos Global Paxos Global, a regulated blockchain firm based out of New York, is known for creating innovative and transparent financial solutions. Many banks and even PayPal already utilize its services.

The newly introduced program, referred to as 'Crypto Source,' will allow clients to engage in buying, selling, and trading cryptocurrencies. Mastercard will seamlessly integrate this capability into banks' systems, serving as a connection point between them and Paxos, which will manage custody and trading of crypto assets. Additionally, the two companies will collaborate to ensure their services meet security and regulatory standards.

"There's a significant number of consumers curious about cryptocurrency. They would feel much more secure engaging with these services if they were provided by their own financial institutions,\" says Jorn Lambert, Mastercard’s Chief Digital Officer.

The rollout of this new feature is anticipated before the year comes to a close.

This year, Mastercard has initiated several projects focused on cryptocurrency and the Web3 space.

It’s worth noting that To start, the company filed multiple trademarks related to NFTs and the Metaverse for its branding elements. Subsequently, Mastercard collaborated with renowned Web3 players like Moonpay, Immutable X, The Sandbox, Nifty Gateway, Candy Digital, Spring, and Mintable. Moreover, the payment titan has enabled cryptocurrency transactions in more than ninety million retail locations globally and has partnered with the crypto platform hi to introduce the pioneering NFT payment service. trademarks A Guide for 2022: Creating and Selling Your NFT Without Cost. NFT payment service Mastercard is stepping into the Web3 arena by launching a service for NFT payments. partnered with Binance Mastercard is collaborating with Binance to facilitate cryptocurrency transactions across more than 90 million retail outlets. customizable NFT debit cards . 

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• Valeria is a reporter for Metaverse Post, specializing in fundraising, AI, the metaverse, digital fashion, NFTs, and various Web3 topics.
• With a Master’s degree in Public Communications and currently pursuing a second major in International Business Management, Valeria spends her leisure time on photography and fashion styling. Beginning at age 13, she launched her first blog centered on fashion, which ignited her enthusiasm for journalism and style.
• Living in northern Italy, she frequently works remotely from various cities across Europe.