Mastercard's cryptocurrency certificate service is expected to promote the expansion of the domestic remittance market.
Mastercard has launched its cryptocurrency credentials service, marking the first pilot peer-to-peer (P2P) transaction to simplify and secure blockchain transfers.
The new service launched by Mastercard allows users to use simple aliases instead of complex blockchain addresses when trading on cryptocurrency exchanges such as Bit2Me, Lirium and Mercado Bitcoin, making it easier to remember and operate the sending and receiving of cryptocurrencies. This design not only simplifies the transaction process, but also enhances the security of transactions. Its purpose is to make more people willing to accept and use cryptocurrencies, thereby promoting the widespread application of cryptocurrencies.
Mastercard P2P cryptocurrency trading debuts
According to the official press release, Mastercard cryptocurrency credentials are currently connected to Latin America and Europe, which is consistent with Mastercard's strategy to expand into the digital asset ecosystem and integrate financial solutions. At the same time, Mastercard is also seeking new partnerships to further expand the reach and capabilities of its ecosystem.
The launch of Mastercard’s cryptocurrency credentials service will allow users from Peru, Chile, Portugal, Argentina, Guatemala, Panama, Mexico, Brazil, Paraguay, Spain, France, Switzerland and Uruguay to conduct multi-currency and cross-blockchain transfer transactions. This service not only supports cross-border remittances, but also domestic transfers.
Foxbit, an emerging cryptocurrency wallet service provider, has joined the Mastercard cryptocurrency credentials pilot program, which will help attract a wider user base. At the same time, Lulubit users will also gain access to this service through its integration with Lirium.
Mastercard claims that the launch of peer-to-peer transaction function is the first application scenario of Mastercard cryptocurrency certificate. In the future, Mastercard may expand this certificate service to non-fungible tokens (NFT), ticketing services and other payment methods based on market dynamics and regulatory requirements to meet market needs and comply with relevant regulations.
In a statement, Walter Pimenta, Executive Vice President of Product and Engineering for Latin America and the Caribbean at Mastercard, said:
“As interest in blockchain and digital assets continues to surge in Latin America and around the world, it is critical to continue to provide trusted and verifiable interactions on public blockchain networks. We are excited to work with these dynamic partners to bring Mastercard Crypto Credentials closer to realizing their full potential.”
Eliminate transaction complexity
Mastercard's Cryptocurrency Credentials Service is dedicated to ensuring that transaction interactions between consumers and businesses on the blockchain network are effectively verified. The service specifically emphasizes that users must meet specific verification standards and ensure that the recipient's wallet can accept the transferred assets. Such measures help to improve the security and trust of transactions and protect the interests of users.
The service simplifies operations for consumers by exchanging metadata, eliminating the need to determine which assets or blockchains the recipient supports. This design is intended to increase the trust and certainty of transactions, ensuring that users can feel more secure and confident when trading cryptocurrencies.
Additionally, the Mastercard Cryptocurrency Credentials Service supports the exchange of travel rule information in cross-border transactions. The travel rule is a regulatory requirement to ensure transparency in transactions and prevent illegal activity.
Summarize:
Mastercard's new cryptocurrency credential service not only marks the company's innovative pace in simplifying and securing blockchain transactions, but also demonstrates its determination to promote the use of digital assets worldwide. By cooperating with multiple cryptocurrency exchanges and wallet service providers, Mastercard has not only improved the convenience and security of transactions, but also opened a door to the world of cryptocurrency for global users. With the promotion and improvement of this service, we have reason to look forward to a more open, convenient and secure digital asset trading environment. #Mastercard #加密货币 #凭证服务 #安全易用
