MA stock is up and is trading at $297.50 as of 10:29 AM EDT.
Mastercard (NYSE:MA), the largest payments company in the world, and Paxos, a cryptocurrency exchange, will start a new program on Monday to help lenders let their customers trade cryptocurrencies.
Mastercard (NYSE:MA) said it would take care of regulatory compliance and security so that financial institutions would be more likely to use crypto trading services. The measure follows Mastercard’s (MA) intention to release a technology that will assist banks in identifying and blocking fraudulent transactions from cryptocurrency exchanges.
Crypto Source is supposed to come out in the first quarter of 2023. If banks (COIN) like it, it could directly compete with American cryptocurrency exchanges like Coinbase Global.
Even though the market is in a bear market, “there are a lot of consumers out there who are really interested in this and intrigued by crypto, but would feel a lot more confident if those services were offered by their financial institutions,” Mastercard’s chief digital officer, Jorn Lambert, noted to CNBC while declining to disclose which lenders enrolled in the program. Some folks still find it a little frightening.
Mastercard is still growing in the emerging market, even though the cryptocurrency business is going through a rough patch because the price of tokens dropped at the beginning of 2022. In August, Mastercard and Ebang’s Ebonex worked together to make a crypto-linked card.
In related news, Uber Technologies (NYSE:UBER) on Thursday collaborated with Marqeta (NASDAQ:MQ), Mastercard (NYSE:MA), and workforce payments platform Branch to provide Uber drivers with speedier payouts as well as rewards on gasoline. The action shows how paytech companies and banks are making it easier to pay through ride-sharing apps in order to get more credit card users to use their own platforms. For example, Grubhub, an online food ordering, and delivery service, has teamed up with Paypal (NASDAQ:PYPL) and Visa (NYSE:V) so that drivers can pay in a variety of ways.
Analysis of MA stock
Investors will be paying close attention to MasterCard as it gets closer to its next earnings report, which is expected to be on October 27, 2022. On that day, MasterCard is expected to have earnings of $2.58 per share, which would be an increase of 8.86% from the year before. Net sales are expected to reach $5.66 billion, up 13.49% from the same time last year, according to the Zacks Consensus Estimate for revenue. Zacks Consensus Estimates predict that the company will earn $10.62 per share and bring in $22.23 billion in revenue each year. This would be an increase of +26.43% and +17.7%, respectively, from the previous year.
Why Did Mastercard’s Stock Drop On Tuesday?
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Author Jowi Kwasu 
