Mastercard has launched a pilot service for cryptocurrency P2P transfers.
Payments giant Mastercard has announced the pilot launch of its Crypto Credential service for cryptocurrency transfers between users.
Before conducting a transaction, each client will receive a human-readable identifier, similar to ENS domains. Participants in the transaction will not have to provide cumbersome crypto wallet addresses, and Mastercard, for its part, guarantees verification of each user.
“Crypto Credential communicates which assets or networks are supported by the recipient, increasing trust and confidence in these transactions,” the company said.
The service supports domestic and international transfers, while complying with the Travel Rule, that is, it collects and stores information about transactions.
The service is currently available to users of Bitcoin exchanges Bit2Me, Lirium, Mercado, as well as Foxbit and Lulubit wallets in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland and Uruguay.
In the future, in addition to P2P transactions, Crypto Credential plans to support NFT transfers, ticket purchasing, and other payment solutions.
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