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Mastercard works with Web3 companies to launch crypto credentials

Tuesday 2 May 2023 15:03 CET | News

US-based Mastercard has joined forces with several Web3 partners to launch crypto credentials in a bid to improve the reliability of crypto transactions.

 

Mastercard Crypto Credential was created to help developers, companies, and individuals to realise the full potential of powering payments, commerce, and economic value across borders and on-chain. 

Some of the main partners that worked with Mastercard on this product launch include crypto wallet providers Bit2Me, Lirium, Mercado Bitcoin and Uphold. These entities are also working on an initial project to support transfers between the US and Latin America and the Caribbean corridors. 

Mastercard is also collaborating with several public blockchain network organisations such as Aptos Labs, Ava Labs, Polygon, and The Solana Foundation. According to Aptos, it is shortlisted to enable the identity and attestation element of sending and receiving funds through Web3. 

Company representatives cited by financialit.net talked about Mastercard Crypto Credential and explained how it can help ensure that those interested in interacting across Web3 environments are able to meet defined standards for the types of activities they’d like to pursue. They also clarified that Mastercard Crypto Credential will not only define verification standards and levels but also provide necessary enabling technology to help support more use cases. 

Mastercard has also onboarded 6 blockchain and digital asset startups into its StartPath programme. Through this programme, the company is providing participants with training and access to channels and customers as well as subject matter expertise.

 

US-based Mastercard has joined forces with several Web3 partners to launch crypto credentials in a bid to improve the reliability of crypto transactions.

 

Other recent Mastercard developments

In April 2023, Mastercard launched a selection of services dedicated to female business owners across Latin America and the Caribbean. These products were created based on a survey that the company conducted with Kantar in five markets around the region (including Mexico, Ecuador, Colombia, Brazil, and the Dominican Republic), which aimed to focus on the needs and preferences of female entrepreneurs.  

The solutions prioritise women in charge of micro, small, or medium businesses while using personal means of payment in order to manage them. The company is making an effort to improve the responsiveness of card-issuing banks with the end goal of making sure that customers won’t have to face multiple unresolved needs that currently are frequent in the region. 

These new services will also allow female customers to benefit from access to training sessions that multiple other partners alongside Mastercard designed to improve the management and development processes of their companies.


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Keywords: partnership, web3, product launch, blockchain
Categories: DeFi & Crypto & Web3
Companies: Mastercard
Countries: United States
This article is part of category

DeFi & Crypto & Web3

Mastercard

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