Mastercard will offer solutions to banks for cryptocurrencies

The payment giant, through an alliance with Paxos, will allow banks to enter the world of digital assets

The Mastercard company announced that it is going to make it easier for banks to adopt cryptocurrencies, through an alliance with the Paxos company.

This union will allow banking institutions to offer payments with cryptocurrencies in the “mainstream” style. Paxos will act in this case as a bridge with the payment processor.

Mastercard will test the product during the first quarter of 2023, according to the report, and then plans to expand to other regions. They did not disclose if there are already associated banks for these tests and which ones they are.

The digital director of the payment processor, Jorn Lambert, highlighted that today there is a high demand for services with cryptocurrencies, referring to a survey showing that people prefer to try these assets from their preferred banks. .

“There are a lot of consumers who are really interested in this and intrigued by cryptocurrencies, but they would feel much safer if their financial institutions offered those services,” Lambert said.

Cryptocurrencies are on the “cusp of really becoming mainstream” and still need to partner with current players to get there, he said. “It is hard to believe that the crypto industry would really go mainstream without embracing the financial industry as we know it,” Lambert added.

K. Tovar

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Source: Diariobitcoin

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