- Aptos Labs, the development entity behind L1 blockchain Aptos (APT), has partnered with Mastercard as part of the Crypto Credential program.
- The program focuses on identification, authentication, ID management and security tools in the crypto-to-fiat conversion and transfer systems.
Aptos Labs partners with Mastercard for Crypto Credential program
Aptos Labs, the development entity behind L1 blockchain Aptos (APT), has partnered with Mastercard as part of the Crypto Credential program, a multi-product initiative designed to push the barriers of trust in crypto-to-fiat conversion and transfer systems. The program focuses on identification, authentication, ID management and security tools. Raj Dhamodharan, head of Mastercard’s blockchain and digital assets arm, stresses the importance of this program for making the global adoption of cryptocurrencies secure. Ava Labs, Polygon Labs and the Solana Foundation will also team up with Mastercard within the framework of this program.
1/ The future of identity is Web3—and Aptos Labs is partnering with @Mastercard to make that future a reality with Mastercard Crypto Credential, an on-chain identity and verification framework with a variety of applications in payments, remittances, ticketing, and NFTs! pic.twitter.com/4vUwylialQ
— Aptos Labs (@AptosLabs) April 28, 2023
Pilot phase kicks off for Mastercard Crypto Credential program
The program’s pilot phase will focus on cross-border money remittances between the United States, Latin America and Caribbean countries. Earlier this year, card giant Mastercard already partnered with Polygon (MATIC), the largest EVM-compatible blockchain. The two teams will collaborate on a Web3 incubator for digital creators. With these partnerships, Mastercard is betting big on crypto integrations in 2023.