MasterCard Financial News

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Payments giant MasterCard is set to launch a new program in collaboration with crypto-exchange Paxos. This new venture will aid financial institutions in offering crypto-trading services to their clients. As per a report published by CNBC, MasterCard will act as a “bridge” between Paxos and the banks. 

Mastercard plans to introduce a service that will let financial institutions offer to currency by acting as a bridge to the Paxos trading platform already used by PayPal. Mastercard will handle security and compliance.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Mastercard officially announced on Oct. 17 a new program to enable financial institutions to bring crypto trading capabilities and services to their customers.

In this article

Payments giant Mastercard believes crypto assets have the potential to transform the financial infrastructure, outlining five key areas that can help “turn cryptocurrencies into an everyday way to pay.”

Hackers broke into the cross-chain bridge linking Binance with Binance Smart Chain (BSC) to shift the funds. These bridges are designed to facilitate the movement of tokens from one blockchain to another.

Rather than considering or employing a one-size-fits-all approach, which could potentially restrict legitimate activity, issuers will be able to identify and turn away transactions with crypto merchants prone to fraud.Ajay Bhalla, president of Mastercard Cyber and Intelligence, says: “Crypto Secure will provide card issuers with a platform that allows them access to insights which will improve the safety of crypto purchases, increasing consumer confidence and creating the same trust they expect when paying with Mastercard.”Crypto Secure provides each issuer with a colour-coded dashboard which shows where their cardholders are buying cryptocurrency. The platform enables issuers to accurately identify the crypto exchanges and measure measure transaction approvals and declines.

 

The financial service provider Mastercard will launch a new crypto service related to risk management on Tuesday Oct. 3. Mastercard’s new service, Crypto Secure, is aimed to help banks find and prevent fraud on crypto merchant platforms.

In this article

 

Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment's card.

The hi debit card can be used to spend fiat, stablecoins and other crypto at any Mastercard merchant worldwide, offering between one and ten per cent cashback.Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world,” says Sean Rach, co-founder, hi.

Do you believe that in five years every second transaction in e-commerce will be settled on blockchain? No? Well, that’s what people thought of plastic credit cards versus cash a few decades ago when it came to traditional stores. 

Copper has become the latest crypto firm to beef up its compliance team, appointing finance veteran Tim Neill as its new chief risk officer.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Cryptocurrencies are converted to fiat currency in real-time at the point of purchase. Cardholders can also earn up to 8% in crypto cashback on eligible purchases and enjoy zero fees on ATM withdrawals.