![\"Mastercard](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/10\/mastercard-crypto-source-768x432.jpg\")
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Payments giant Mastercard has introduced a new program called Crypto Source to enable financial institutions to offer crypto trading and other related services to their customers. Mastercard has partnered with Paxos Trust Company to support this program. A Mastercard executive says that crypto is on the \u201ccusp of really going mainstream.\u201d<\/strong><\/p>\n Mastercard introduced a new program called Crypto Source Monday that will bring \u201ccrypto trading capabilities to banks.\u201d<\/p>\n In partnership with regulated and licensed crypto custody providers, Crypto Source will \u201cenable financial institutions to bring secure crypto trading capabilities and services to their customers,\u201d the announcement details, elaborating:<\/p>\n Mastercard\u2019s financial institution partners will gain access to a comprehensive suite of buy, hold and sell services for select crypto assets, augmented with proven identity, cyber, security and advisory services.<\/p>\n<\/blockquote>\n \u201cThis Crypto Source offering is complemented by Mastercard Crypto Secure<\/a> to bring additional security to the crypto ecosystem,\u201d the payments company emphasized, noting that Crypto Source is currently being prepared for pilot programs.<\/p>\n Mastercard further explained that to support this program, it is \u201cexpanding its partnership and work with Paxos Trust Company, a leading regulated blockchain infrastructure platform,\u201d adding:<\/p>\n The partnership aims for Paxos to provide crypto-asset trading and custody services on behalf of the banks, while Mastercard will leverage its technology to integrate those capabilities into banks\u2019 interfaces.<\/p>\n<\/blockquote>\n Jorn Lambert, chief digital officer at Mastercard, described: \u201cOur crypto product innovations will provide choice at scale and continue to bring one-of-a-kind opportunities to financial institutions as they seek to offer new, advanced services to their customers.\u201d He opined:<\/p>\n Our commitment is simple \u2013 to explore crypto and the underlying digital assets technology to support consumer choice in payments.<\/p>\n<\/blockquote>\n Commenting on the Crypto Source launch, Lambert told CNBC: \u201cThere\u2019s 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 \u2026 It\u2019s a little scary to some people still.\u201d He added that crypto is on the \u201ccusp of really going mainstream.\u201d<\/p>\n Mastercard recently outlined<\/a> five key areas it is focusing on in order to turn cryptocurrencies into \u201can everyday way to pay.\u201d<\/p>\nMastercard to Help Banks Offer Crypto Services<\/h2>\n
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