HomeNewsBREAKING: Mastercard Unveils Crypto Credentials in Collaboration with Polygon, Solana and Ethereum...

BREAKING: Mastercard Unveils Crypto Credentials in Collaboration with Polygon, Solana and Ethereum for Seamless Transactions

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    • Mastercard is working with public blockchain companies like Polygon, Aptos Labs, Ava Labs and Solana to create a new set of standards called the Crypto Credential.
    • The proposed service will focus on facilitating transfers of crypto assets between countries.

Mastercard Launches Crypto Credentials

Mastercard has launched its Crypto Credential, which aims to lay down a set of common standards and infrastructure that will help confirm trusted communications among consumers and businesses using blockchain networks. The proposed service will make sure transactions between users’ wallets are traceable and compliant. Mastercard is focusing on facilitating transfers of crypto assets between countries with its Crypto Credential.

The firm emphasizes the fact that NFT projects require different verification requirements than those needed to transfer cryptocurrencies like Bitcoin, Ethereum and Litecoin.

Mastercard Boosts Crypto Adoption

In order to launch the service, Mastercard has partnered with crypto companies that provide crypto wallets, including Bit2Me, Lirium, Mercado Bitcoin, and Uphold. The companies are collaborating on an initial endeavor to establish a proper segway for transfer between the United States, Latin America, and the Caribbean. Mastercard’s Crypto Credential will not only define verification standards and levels, but it will also provide necessary enabling technology to assist in bringing more use cases to life.

Despite rumors of payment processors slowing down their plans in response to a general market fall over the previous year, this new development demonstrates that interested industry giants like Mastercard continue to have a burgeoning interest in cryptocurrencies.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628