Mastercard will help banks offer crypto trading

By The Exchange Team

Mastercard wants to bring cryptocurrency to the masses by making it easy for banks to participate.

The payments giant will introduce a program Monday to assist banks provide bitcoin trading, CNBC reported.

Mastercard will be a "bridge" between Paxos, a crypto trading platform utilised by PayPal, and banks.

Mastercard and Paxos will handle compliance and security, two reasons banks avoid the asset class.

Some consumers are doubtful. Volatile cryptocurrencies like bitcoin have lost more than half their value this year.

Since January, the business has been hit with billions of dollars in cyberattacks, as well as many high-profile bankruptcies.

Mastercard's chief digital officer said polling shows demand for the asset, although 60% of respondents prefer to use their existing institutions.