Mastercard today introduces Crypto Source, a new program to enable financial institutions to bring secure crypto trading capabilities and services to their customers.  

The 2022 Mastercard New Payments Index reported that 29 percent of respondents globally hold cryptocurrency as an investment, with another 65 percent indicating a preference for crypto-related services to be provided by their current trusted financial institution.

In partnership with regulated and licensed crypto custody providers, Mastercard’s 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. This Crypto Source offering is complemented by Mastercard Crypto Secure to bring additional security to the crypto ecosystem and support card issuers in their compliance with complex regulations.  

“At Mastercard, trust is our business. What we are announcing today is a connected approach to services that will help bring the next billion users safely and securely into the crypto ecosystem. Our recent investments in this space, such as the acquisition of CipherTrace and Ekata, are providing us with a unique set of capabilities to help provide our customers and consumers with the most technically advanced solutions available in the market,” said Ajay Bhalla, President, Cyber & Intelligence at Mastercard. 

To support this program, Mastercard is expanding its partnership and work with Paxos Trust Company, a leading regulated blockchain infrastructure platform. 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’ interfaces, resulting in a seamless experience for the consumer.