Payments giant Mastercard has announced its program to act as a bridge between banks, working with Paxos, the crypto trading platform currently used by PayPal, to help banks offer cryptocurrency trading.
Mastercard announced on Monday (October 17th) that it will launch a program that allows financial institutions to offer cryptocurrency trading to their customers, CNBC reported. currently PayPal Cryptocurrency trading platform used by Paxos Announcing that it will work with the Bank, Mastercard will create a “bridge“He aims to take on the task. Thanks to this cooperation, it is aimed to establish a reliable relationship between investors who want to invest in cryptocurrencies and banks.
Digital manager of Mastercard Jorn Lambert In his statement on the subject, according to surveys, investors 60%. in safe waters He said they wanted to live. Lambert made the following statements in the continuation of his statement:
There are a lot of consumers in the market who are really interested in cryptocurrencies. However, there is a perception that providing these services by their own financial institutions (banks) will make them feel more secure. We can see that this investment is still intimidating for some people.
Acting as a bridge between investors and banks reduction in money laundering, to transaction security and Increasing the perception of crypto compatibility The payment giant, who wants to help, sells the product in question. in the first quarter of next year It is preparing to launch as a pilot.
Referring to the bear season in the crypto money markets, Lambert concluded his statement with the following statements:
It would be a little shortsighted to think that such deals herald the end of the “crypto winter.” We don’t see anything like this. But as regulations come in, there will be a higher degree of security for crypto platforms and we will see many of the current issues resolved in the coming years.