Crypto's next set of million(s) herds of users will come from traditional banks, that's a significant shift!?

Crypto's next set of million(s) herds of users will come from traditional banks, not crypto platforms; that's a significant shift!

Defi companies - FTX and MakerDAO -> are moving into traditional banking.

This week, Mastercard (traditional finance) announced a program called "Crypto Source." 

This program enables banks or FIs to offer crypto trading capabilities to customers via Paxos - a crypto trading platform. 

How the partnership works:

• Mastercard integrates the Paxos trading platform into the banks' user interfaces
• Paxos offers Mastercard bank customers the ability to buy, hold, and sell crypto
• Mastercard handles compliance, fraud, and security

This approach sounds similar to how FTX wants to partner with Robinhood to offer their customers more crypto features.

Let us recall that Mastercard already made a big move into crypto by partnering with Coinbase so that customers could buy NFTs on their marketplace.

TradeFi is definitely not sleeping at the wheel and is embracing crypto. These TradeFi customers will become the subsequent million users.

It will be interesting to see when Islamic Financial Institutions will shift use cases such as providing shariah-compliant engines over blockchain to enable their customer to invest directly into securities and trade in between without an intermediary.

Or, it could be moving Mudarabah over blockchain and tokenizing the funds, investing in selected projects, and letting "rab ul maal "(deposit holders) trade freely after the maturity of the deposit. It sounds like a good hybrid model to increase the Islamic Finance market share