{"id":68703,"date":"2022-10-17T17:11:53","date_gmt":"2022-10-17T14:11:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68703"},"modified":"2025-09-07T15:38:40","modified_gmt":"2025-09-07T12:38:40","slug":"mastercard-to-provide-banks-with-tools-to-access-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mastercard-to-provide-banks-with-tools-to-access-cryptocurrencies\/","title":{"rendered":"Mastercard to provide banks with tools to access cryptocurrencies"},"content":{"rendered":"<p>The payments giant Mastercard, in partnership with Paxos, will act as an intermediary for traditional financial institutions in launching cryptocurrency trading. <a href=\"https:\/\/www.cnbc.com\/2022\/10\/17\/mastercard-will-help-banks-offer-cryptocurrency-trading.html\"> CNB\u0421<\/a> reported in an interview with Chief Technology Officer J\u00f6rn Lambert.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThere are many consumers who are genuinely interested in cryptocurrencies. They would feel much more confident if their banks offered these services,\u201d<\/em> the executive explained.<\/p>\n<\/blockquote>\n<p>According to a survey, 60% of respondents belong to this category.<\/p>\n<p>Banks were slow to meet demand due to the regulatory and technical competencies required.<\/p>\n<p>As part of the initiative, Mastercard will act as a \u201cbridge\u201d between financial institutions and Paxos&#8217; digital asset platform. It will provide the necessary level of security and regulatory compliance (<span data-descr=\"anti-money laundering\" class=\"old_tooltip\">AML<\/span>\/<span data-descr=\"Know Your Customer\" class=\"old_tooltip\">KYC<\/span>).<\/p>\n<p>Product tests are planned for Q1 2023. The names of participating banks are not disclosed.<\/p>\n<p>In October, Mastercard announced<a href=\"https:\/\/u1f987.com\/en\/news\/mastercard-to-roll-out-tool-to-detect-fraud-in-bitcoin-transactions\"> the launch of the Crypto Secure instrument<\/a>. It will allow banks to identify and curb transactions with crypto exchanges linked to fraudulent practices.<\/p>\n<p>In September, competitor Visa<a href=\"https:\/\/u1f987.com\/en\/news\/visa-consensys-and-a16z-back-sardine-platform-in-51-5-million-round\"> participated<\/a> in a funding round for Sardine, a platform fighting financial crime, to the tune of $51.5 million.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The payments giant Mastercard, in partnership with Paxos, will act as an intermediary for traditional financial institutions in launching cryptocurrency trading. CNBC&#8217;s chief technology officer J\u00f6rn Lambert said this.<\/p>\n","protected":false},"author":1,"featured_media":68704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,70,1504],"class_list":["post-68703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-mastercard","tag-paxos"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68703"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68703\/revisions"}],"predecessor-version":[{"id":68705,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68703\/revisions\/68705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68704"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}