Today, Mastercard announced Crypto Source, which allows banks to offer cryptocurrency trading to their customers. Paxos will provide brokerage and custody services with Mastercard by integrating with banking interfaces.

The card company recently introduced its Crypto Secure solution to enable compliance. The latest service adds to crypto cards, its digital identity solutions, payment support, consulting services and NFT initiatives.

“Our commitment is simple: explore cryptocurrencies and the underlying digital asset technology to support consumer choice in payments,” said Jorn Lambert, chief digital officer for Mastercard.

Paxos already provides cryptocurrency brokerage to PayPal and Venmo, among others. Additionally, Paxos Trust is a New York licensed custodian with a conditional bank trust statute from the Office of the Comptroller of the Currency. Critically, it offers segregated client assets.

The startup was recently announced as the crypto custody partner of EDX Markets, the institutional crypto exchange launched by Fidelity, Schwab, Citadel Securities and others.

“This exciting offering developed by Paxos and Mastercard will provide FIs with the fastest and most reliable way to offer secure and reliable crypto access to their consumers around the world,” said Walter Hessert, Paxos Chief Strategy Officer.

This is not Mastercard’s first cryptocurrency trading offering. A year ago, Mastercard announced a Crypto-as-a-Service partnership with Bakkt, the startup founded by NYSE owner ICE.

In addition to cryptocurrencies, both Visa and Mastercard provide crypto consulting and are active in central bank digital currency (CBDC) initiatives, with Mastercard being the first major organization to launch a CBDC sandbox.