Mastercard Inc has debuted a service that will let consumers buy and sell digitalassets through their bank accounts, potentially paving the way for thousands of finance firms to offer crypto trading for the first time. Moneyweb
Mastercard Inc has debuted a service that will let consumers buy and sell digital assets through their bank accounts, potentially paving the way for thousands of finance firms to offer crypto trading for the first time. The product, called Crypto Source, will start in the US, Israel and Brazil early next year through a pilot programme, Ajay Bhalla, Mastercard’s president of cyber and intelligence, said in an interview. He declined to say which banks would be the first to participate.
That means lenders won’t be holding the assets on their balance sheets. A rout in cryptocurrency markets has triggered a series of bankruptcies, layoffs and failures in the sector. The crash has wiped out almost $2 trillion from the market value of crypto, but hasn’t yet deterred large financial firms from offering products and services in the space. Late last month, for example, exchange operator Nasdaq Inc. said it would start offering digital assets custody services to its clients.
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Mastercard to offer crypto trading tied to bank accountsMastercard will let consumers buy and sell digital assets through their bank accounts.
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