Mastercard has been actively pursuing deals lately to advance in cryptocurrency successfully. The last partner on the list today is the Paxos cryptocurrency platform.
In its announcement, Mastercard added that through its partnership with Paxos, the company would develop a program to help financial institutions offer cryptocurrency trading.
The Crypto Source program aims to help banks comply with cryptocurrency compliance regulations, verify transactions, and help fight money laundering.
Mastercard noted that they received offers from their clients interested in cryptocurrency. Customers would also like their financial institutions to provide crypto-currency services.
Visa, Mastercard’s main competitor, recently partnered with cryptocurrency exchange FTX. Together, they issued debit cards for forty countries worldwide with the ability to pay for goods and services with cryptocurrency.
Mastercard launched the Crypto Secure service to ensure the security of crypto payments for its customers. It also allowed a select circle of customers to issue cards featuring their favorite NFTs.