The Mastercard Crypto Credential simplifies cryptocurrency transactions by allowing users to send and receive digital assets using aliases instead of complex blockchain addresses. Through partnerships with regional exchanges and providers, this solution aims to ensure that users meet verification standards and that transactions are supported by the recipient’s wallet, aiming to enhance trust and security in crypto exchanges.
It also facilitates compliance by exchanging metadata and adhering to Travel Rule requirements.
This initiative includes collaboration with regional platforms such as ATAIX Eurasia, Intebix, and CoinMENA, as well as Fuze, a digital asset infrastructure provider. These partnerships aim to simplify blockchain transactions and enhance user security in the region.
Under the programme, users are verified based on Mastercard's credentialing standards and provided with an alias for secure transactions across supported exchanges. The solution validates recipient details before transactions proceed, helping to prevent errors or loss of funds. While the initial phase focuses on peer-to-peer transfers, Mastercard plans to expand the solution to support applications such as NFTs, ticketing, and other blockchain-based payment solutions, subject to market and regulatory conditions.
The UAE and Kazakhstan join markets across North America, Europe, Latin America, and Asia-Pacific in piloting this solution. Initially, a limited group of users will gain access, with wider availability expected in the coming months.
The Fintech Division Director of the Astana Financial Services Authority (AFSA), emphasised the importance of clear regulatory frameworks to foster trust and growth in digital assets, stating that a collaboration with global partners such as Mastercard is essential to establishing consistent standards and ensuring the sector's long-term integrity.
Moreover, officials from Intebix highlighted the significance of the partnership, stating that it establishes a trusted framework for integrating digital assets into the global economy.
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