MasterCard has announced the launch of 'Crypto Source,' a new program that aims to assist financial institutions in offering their clients crypto services. The new Mastercard program was made in collaboration with Paxos, a crypto-focused trading platform that is currently backed by PayPal. For the partnership, Paxos will offer asset management and trading services, while MasterCard will primarily concentrate on security tools and regulatory compliance.
“Today is an exciting step in our crypto journey that draws on the strengths of our global businesses, from open banking and identity verification to analytics and fraud monitoring to settlement solutions. We’re excited to build on our long-term partnership with Paxos."