Last week, Mastercard introduced Crypto Source^TM, a new program enabling financial institutions to bring secure crypto trading capabilities and services to their consumers.

In partnership with Paxos, 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 provided by Mastercard. This Crypto Source^TM offering is complemented by Mastercard Crypto Secure^TM to bring additional security to the crypto ecosystem and help card issuers learn how their customers are already investing in digital assets today on other platforms. 

Financial institutions responding to customer demand for crypto

With the strength of Mastercard’s brand and reach, Crypto Source^TM marks a pivotal shift where global banks are seeking to build out digital asset capabilities to meet the growing needs of their customers. 

As Mastercard’s Chief Digital Officer Jorn Lambert recently noted, polling shows strong demand for digital assets, but nearly 65% of respondents said they would prefer to access crypto through their trusted banking relationships. 

Mastercard and Paxos – a partnership built on trust

As one of the world’s largest payments networks, Mastercard is a global technology company with a trusted brand and partners across more than 210 countries and territories. Crypto Source^TM provides a compelling product offering for the thousands of financial institutions waiting for the right opportunity to bring crypto to their clients in a secure, seamless and trustworthy way.

“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,” — Ajay Bhalla, President, Cyber & Intelligence at Mastercard.

This partnership will leverage Paxos’ regulated technology to give mainstream consumers access to digital assets and help bridge the gap between crypto and traditional financial institutions. We couldn’t be more thrilled to get started.