Share this article
Mastercard Joins With Paxos to Help Banks Offer Crypto Trading
The payments giant will verify transactions and help banks follow compliance rules
Updated May 9, 2023, 3:59 a.m. Published Oct 17, 2022, 11:23 a.m.
Mastercard (MA) has formed a partnership with crypto trading platform Paxos to offer a program that will help financial institutions offer cryptocurrency trading, the payments company said Monday.
Mastercard started the Crypto Source program, where it will help banks follow crypto compliance rules, verify transactions, provide anti-money-laundering and identity monitoring services.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
CNBC reported on the offering earlier on Monday.
“There’s a lot of consumers out there that are really interested in this and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions,” Jorn Lambert, Mastercard’s chief digital officer, told CNBC. “It’s a little scary to some people still.”
The payments company had earlier started a service that allows issuers to assess the risk profile of crypto exchanges.
UPDATE (Oct. 17, 12:41 UTC): Updates headline and lead paragraph with confirmation from Mastercard.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
BMW Taps JPMorgan for First Onchain Programmable FX Payment
The German car giant used JPMorgan’s permissioned Kinexys Digital Payments network to do the FX transaction.
What to know:
- BMW Group unlocks automatic EUR to USD foreign exchange (FX) to support its international treasury management using Kinexys Digital Payments.
- The first transaction involved automated balance checks, conditional auto-deposits, near real-time FX transactions and transfers between BMW Group’s Blockchain Deposit Accounts in Frankfurt and New York.
- This milestone marks the first time Kinexys by J.P. Morgan has made an onchain FX payment through pre-defined and fully automated instructions.
Top Stories
