October 17, 2022 | Buy, New York
New coding sourceTM The program expands Mastercard’s secure, secure and reliable services
Mastercard offers today Crypto SourceTMA new program to enable financial institutions to provide secure cryptocurrency trading capabilities and services to their clients.
2022 MasterCard New Payments Index It stated that 29% of respondents globally hold cryptocurrency as an investment, while another 65% indicated a preference for crypto-related services offered by their existing trusted financial institution. *
In partnership with regulated and licensed crypto-custodian providers, Mastercard’s partner financial institutions will gain access to a comprehensive suite of buy, hold and sell services for specific crypto assets, enhanced by verified identity, internet, security and advisory services. This coding source display is supplemented with MasterCard Secure EncryptionTM To provide additional security for the crypto ecosystem and support card issuers in complying with complex regulations.
Now, Mastercard’s suite of cryptocurrency-related offerings for banks and financial companies includes:
- Technology support and partnership to enable buy, hold and sell of selected crypto assets
- security management Including Mastercard Identity Solutions, Cryptographic Analytics, Transaction Monitoring, Anti-Money Laundering, Know Your Business and Lifecycle Phases, Cyber Security, Biometrics
- Offered possibilities to exchange cryptocurrencies and extract money from them Through a range of products, including crypto cards, open banking and cross-border services. Financial institutions will also be able to offer additional functionality using Mastercard technology such as digital receipts and loyalty solutions
- Encoder management Including software design, product development and technology implementation, as well as improving go-to-market and marketing consulting services, providing comprehensive support to banks, financial firms and issuers for large-scale crypto offerings
“At MasterCard, trust is our business. What we are announcing today is a service-connected approach that will help bring users safely and securely into the crypto ecosystem. Our recent investments in this space, such as the acquisitions of CipherTrace and Ekata, provide us with a unique set of capabilities to help in providing our customers and consumers with the most technically advanced solutions available on the market,” He said Ajay Bhalla, Head of Cyber & Intelligence at Mastercard.
To support this program, Mastercard is Expand its partnership and working with Paxos Trust, a leading regulated blockchain infrastructure platform. The partnership aims for Paxos to provide crypto-asset trading and custody services on behalf of banks, while Mastercard will leverage its technology to integrate these capabilities into bank interfaces, resulting in a seamless consumer experience.
“Our commitment is simple – exploring crypto and the underlying digital asset technology to support consumer choice in payments. Today is an exciting step for our country coding journey Which draws on the strengths of our global business, from open banking and identity verification to analytics and fraud monitoring to settlement solutions. We are excited to build on our longstanding partnership with Paxos – co-innovating to bring safe and secure technology to financial institutions. Our crypto innovations will provide options at scale and will continue to provide unique opportunities for financial institutions in their quest to provide new and advanced services to their customers,” Jorn Lambert, Chief Digital Officer, Mastercard, said:
Mastercard has a strong network of financial institutions around the world. This exciting show is developed by Paxos and MasterCard It will give financial institutions the fastest and most reliable way to provide secure and reliable crypto access to their customers globally. We are pleased to partner with Mastercard to further accelerate the adoption of digital assets.” said Walter Hessert, head of strategy at Paxos.
Over the past few years, Mastercard has worked alongside its customers and partners to offer new services and capabilities that help make encryption safer and more secure. These efforts have been complemented by the addition of new technologies through AccuracyAnd the ikataAnd the recon And the encryption. This unique suite of services provides qualified financial institutions with the opportunity to manage crypto-asset investments directly to consumers. MasterCard also continues to support banks, governments and others through Crypto and digital currency consulting services.
MasterCard CryptoSource is currently being prepared for beta programs. Additional details on broader availability will be provided at a later time.
Learn more about crypto and blockchain from Mastercard
*Research conducted by Harris Poll, Mastercard Global Foresights, Insights and Analytics from March 21 to April 21, 2022. The interviews were conducted online among 35,040 global adults (17,071 women, 17,969 men) and include representative samples at the level National market across 5 regions.
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