Mastercard crypto credential
Photo by Tima Miroshnichenko on Pexels.com.

Mastercard Crypto Credential brings more trust to the blockchain ecosystem

The launch of Mastercard Crypto Credential was announced by Mastercard in April 2023. The announcement introduced a set of common standards and infrastructure that will help verify interactions among consumers and businesses using blockchain networks.

Mastercard Crypto Credential aims to provide a foundation for financial institutions, governments, brands, and crypto players, ensuring that those interested in interacting across web3 environments are meeting defined standards for the types of activities they’d like to pursue.

17317862834206
Playstation 5

PlayStation 5 Console

Mastercard Crypto Credential can unlock several use cases

‚ÄúSetting up and scaling trusted ecosystems to enable commerce is not new to Mastercard,‚ÄĚ said Raj Dhamodharan, executive vice president, Blockchain and Digital Currencies at Mastercard.

‚ÄúWe‚Äôve done this for years in payments ‚Äď pioneering innovation in identity verification and global standards. We look forward to bringing decades of experience to this space to enhance trust and work with the broader industry and governments to enable further innovation.‚ÄĚ

There are several use cases that Mastercard Crypto Credential can unlock, as the types of consumer verification vary widely based on market and compliance requirements. Mastercard Crypto Credential will not only define verification levels but also provide necessary enabling technology to help bring more use cases to life. Some ways in which Mastercard Crypto Credential will work:

  • Providing easy to remember, straightforward aliases to help consumers share wallet addresses with one another, improving the consumer experience and reducing the potential for errors‚ÄĮ
  • Bringing richer information to blockchain transactions through metadata, helping to define criteria for a wallet to help ensure that transactions are completed as intended
  • Tapping into CipherTrace‚Äôs suite of services to help verify addresses and support Travel Rule compliance for cross border transactions 
294505607 801654567884880 2499235717141901569 n

The Most Efficient Crypto Trading and Investment Platform

Phemex is a Singapore-based cryptocurrency and derivatives exchange. We offer zero-fee spot trading services and we are among the fastest-growing in the industry! Register today to enjoy special discounts and bonuses!

Lirium, Bit2Me, Mercado Bitcoin and Uphold are the first partners to join Mastercard in this journey, working on an initial project to enable transfers between US and Latin America and the Caribbean corridors. Mastercard is also teaming up with public blockchain network organisations Aptos Labs, Ava Labs, Polygon and The Solana Foundation, who will help bring Mastercard Crypto Credential to the application developers in their ecosystems. Together, Mastercard and these partners will collaborate to enhance verification in NFTs, ticketing, enterprise and other payments solutions.

‚ÄúLatin America and the Caribbean is among the top regions for digital assets adoption and remittances leveraging digital assets as means of value exchange. Mastercard Crypto Credential could help to address key challenges that have traditionally hindered mainstream usage of this type of use cases, driving more industry players to join this space in a meaningful way,‚ÄĚ says Walter Pimenta, executive vice president, Product and Engineering, Latin America and the Caribbean.

eToro share img

Crypto, Stocks & Beyond! The power of social investing

Trade and invest in a diversified portfolio, starting at $10, or practice risk-free with a virtual portfolio.

Get investment ideas from 30M users and invest in 3,000+ assets on a trusted and friendly platform.

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realise their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

___________________________________________

Every month in 2024 we will be giving away one PlayStation 5. To qualify join our Facebook group, TikTok and Subscribe to our Sweet TnT Magazine YouTube channel

When you buy something through our retail links, we may earn commission and the retailer may receive certain auditable data for accounting purposes.

You may also like:

Mastercard and TRIBE Carnival partnership offers you priceless opportunities

Top crypto research tools you should have

How to protect one’s crypto from Phishing

Crypto Visa: Guarda Wallet introduces new prepaid Visa card

Grow your business: 5 ways cryptocurrency can help you

The cybersecurity risks of cryptocurrency

5 Reasons why the crypto market is growing so fast

Pixel 7

Google Pixel 7

128 GB Smartphone, 6.3″ OLED Full HD Plus 1080 x 2400, Octa-core (Cortex X1Dual-core (2 Core) 2.85 GHz + Cortex A78 Dual-core (2 Core) 2.35 GHz + Cortex A55 Quad-core (4 Core) 1.80 GHz), 8 GB RAM, Android 13, 5G, Snow

About Sweet TnT

Our global audience visits sweettntmagazine.com daily for the positive content about almost any topic. We at Culturama Publishing Company publish useful and entertaining articles, photos and videos in the categories Lifestyle, Places, Food, Health, Education, Tech, Finance, Local Writings and Books. Our content comes from writers in-house and readers all over the world who share experiences, recipes, tips and tricks on home remedies for health, tech, finance and education. We feature new talent and businesses in Trinidad and Tobago in all areas including food, photography, videography, music, art, literature and crafts. Submissions and press releases are welcomed. Send to contact@sweettntmagazine.com. Contact us about marketing Send us an email at contact@sweettntmagazine.com to discuss marketing and advertising needs with Sweet TnT Magazine. Request our media kit to choose the package that suits you.

Check Also

Bartending instructor

How to become an online bartending instructor

Becoming an online bartending instructor involves teaching cocktail-making techniques, mixology skills, and beverage knowledge to …

Online selling

3 Online selling tips for beginners to succeed

More and more people are considering ecommerce as a potential career path, with even more …

Leave a Reply

Discover more from Sweet TnT Magazine

Subscribe now to keep reading and get access to the full archive.

Continue reading