MasterCard will provide banks with tools for accessing cryptocurrencies

MasterCard payment giant in partnership with PaxOS will become an intermediary for traditional financial institutions in launching cryptocurrency trade. This was announced in an interview with CNBS by the Director of Digital Technologies Yorn Lambert.

“There are many consumers who are really interested in cryptocurrencies. They would feel much more confident if their banks provided these services “, -explained the top manager.

According to the survey, this category includes 60% of respondents.

Banks were in no hurry with the satisfaction of demand due to the necessary competencies in the regulatory and technical areas.

As part of the MasterCard initiative, it will act as a “bridge” between financial institutions and the Paxos digital assets platform. The necessary level of security and compliance with regulatory requirements (aml / kYC) will be ensured.

Product tests are scheduled for the first quarter of 2023. The names of specific participating banks are not mentioned.

Recall that in October, MasterCard announced the launch of the Crypto Secure tool. ZigZag DEX is to It will allow banks to identify and suppress transactions with crypto -streaks subject to fraudulent practices.

In September, the competitor Visa participated in the round of financing of the platform to combat the financial crimes of Sardine at $ 51.5 million.

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