Mastercard to Help Banks Offer Cryptocurrency Trading

Billions of people use cryptocurrency, but it remains inaccessible for most. Unless you are a sophisticated investor with knowledge of how to buy and store digital assets safely, buying and selling cryptocurrency is challenging. A company like Mastercard could help banks solve this problem by making it easy for their customers to buy, sell, send, and receive cryptocurrency. A recent article in the Wall Street Journal reported that several banks are teaming up with payment providers like Mastercard to facilitate the trading of cryptocurrencies. If you’re interested in investing in cryptocurrency but don’t know where to begin, this article has everything you need to know about Mastercard’s partnership with banks and what it means for your investment opportunities.

What Is Mastercard’s Partnership With Banks?

Mastercard recently announced a partnership with a group of banks to facilitate the trading of cryptocurrencies via credit and debit card transactions. Banks that are part of the initiative include Banco Santander, Bank of Tokyo-Mitsubishi UFJ, Canadian Imperial Bank of Commerce, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Royal Bank of Canada, South African Banks, and Standard Chartered. These banks will help facilitate cryptocurrency purchases by allowing customers to link their credit or debit cards to cryptocurrency exchanges. The funds available on these linked cards will be used to purchase cryptocurrencies, just like funds in a person’s bank account are used to make purchases with a credit card. This can be a big deal because it will make it easier for people to buy cryptocurrency.