Mastercard is working with public blockchain companies like Polygon, Aptos Labs, Ava Labs and Solana to create a new set of standards that it refers to as the Crypto Credential. This comes as a part of Mastercard’s long-standing commitment to increasing the level of trust that consumers, businesses, and governments have in the cryptocurrency industry. With this, Mastercard is aiming to offer a service that makes sure transactions between users’ wallets are traceable and compliant. The proposed service will first focus on facilitating transfers of crypto assets between countries.
Mastercard Launches Crypto Credentials
According to an official statement issued by the payments giant, Mastercard’s Crypto Credential will lay down a set of common standards and infrastructure that will help confirm trusted communications among consumers and businesses using blockchain networks.” The firm further emphasizes the fact that NFT projects require different verification requirements than
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