Global payment giant Mastercard has launched its peer-to-peer cryptocurrency credentials pilot program to simplify how users send and receive digital currencies. The new service is available in more than ten countries in Europe and Latin America. By introducing the Mastercard Crypto Credential, the company aims to simplify and secure cryptocurrency transfers, bypassing the need for complex blockchain addresses.
According to the press release, the new offering is available on Bit2Me, Lirium, and Mercado Bitcoin exchanges. Mastercard reported that users in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland and Uruguay can now access local and cross-border transfers across multiple currencies and blockchain.
Additionally, Foxbit has joined the Mastercard Crypto Credential ecosystem, expanding access to more consumers. Lulubit users will also benefit from this integration through Lirium, expanding the secure and accessible crypto transaction network.
“Mastercard continues to invest in its technology, standards and partnerships to bring safe, simple and secure payments to the forefront,” said Walter Pimienta, executive vice president of product and engineering for Latin America and the Caribbean at Mastercard. blockchain
Blockchain
Blockchain technology consists of a digital network of blocks with a comprehensive record of transactions made in a cryptocurrency such as Bitcoin or other altcoins. One advantage of a signature in a blockchain is that it is kept across more than one computer. The ledger can be public or private (allowed). In this sense, blockchain is immune to data manipulation, making it not only open, but also verifiable. Since the blockchain is stored across a network of computers, it is very difficult to control
Blockchain technology consists of a digital network of blocks with a comprehensive record of transactions made in a cryptocurrency such as Bitcoin or other altcoins. One advantage of a signature in a blockchain is that it is kept across more than one computer. The ledger can be public or private (allowed). In this sense, blockchain is immune to data manipulation, making it not only open, but also verifiable. Since the blockchain is stored across a network of computers, it is very difficult to control
Read this term
As digital assets continue to rise in Latin America and around the world, it is imperative that we continue to provide trusted and verifiable interactions across public blockchain networks.”
The Mastercard Crypto Credential Program aims to verify interactions between consumers and businesses on blockchain networks, ensuring that users meet specific verification criteria. This system confirms that the recipient's wallet can support the transferred assets, eliminating the complexity of identifying supported assets and blockchains.
Moreover, it supports Mastercard encryption credentials
exchange
exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
Read this term Travel rules information for cross-border transactions, and adherence to regulatory requirements to ensure transparency and prevent illegal activities.
NFTs, tickets and other payment solutions
Mastercard Crypto Credential plans to support various use cases, including NFTs, ticketing, and other payment solutions. According to Mastercard, when a user registers, the exchange verifies him according to Mastercard Crypto Credential standards. The user then gets a nickname to send and receive funds via supported exchanges. During the transfer process, Mastercard Crypto credentials verify the recipient's nickname and wallet compatibility.
Initially, a select group of cryptocurrency wallet users will use Mastercard Crypto credentials on a first-come, first-served basis. The program will eventually expand to include more than 7 million users across participating exchanges in the coming months.
Global payment giant Mastercard has launched its peer-to-peer cryptocurrency credentials pilot program to simplify how users send and receive digital currencies. The new service is available in more than ten countries in Europe and Latin America. By introducing the Mastercard Crypto Credential, the company aims to simplify and secure cryptocurrency transfers, bypassing the need for complex blockchain addresses.
According to the press release, the new offering is available on Bit2Me, Lirium and Mercado Bitcoin exchanges. Mastercard reported that users in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland and Uruguay can now access cross-border and local transfers via multiple currencies and blockchain.
Additionally, Foxbit has joined the Mastercard Crypto Credential ecosystem, expanding access to more consumers. Lulubit users will also benefit from this integration through Lirium, expanding the secure and accessible crypto transaction network.
“Mastercard continues to invest in its technology, standards and partnerships to bring safe, simple and secure payments to the forefront,” said Walter Pimienta, executive vice president of product and engineering for Latin America and the Caribbean at Mastercard. blockchain
Blockchain
Blockchain technology consists of a digital network of blocks with a comprehensive record of transactions made in a cryptocurrency such as Bitcoin or other altcoins. One advantage of a signature in a blockchain is that it is kept across more than one computer. The ledger can be public or private (allowed). In this sense, blockchain is immune to data manipulation, making it not only open, but verifiable as well. Since the blockchain is stored across a network of computers, it is very difficult to control
Blockchain technology consists of a digital network of blocks with a comprehensive record of transactions made in a cryptocurrency such as Bitcoin or other altcoins. One advantage of a signature in a blockchain is that it is kept across more than one computer. The ledger can be public or private (allowed). In this sense, blockchain is immune to data manipulation, making it not only open, but verifiable as well. Since the blockchain is stored across a network of computers, it is very difficult to control
Read this term
As digital assets continue to rise in Latin America and around the world, it is imperative that we continue to provide trusted and verifiable interactions across public blockchain networks.”
The Mastercard Crypto Credential Program aims to verify interactions between consumers and businesses on blockchain networks, ensuring that users meet specific verification criteria. This system confirms that the recipient's wallet can support the transferred assets, eliminating the complexity of identifying supported assets and blockchains.
Moreover, it supports Mastercard encryption credentials
exchange
exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
Read this term Travel rules information for cross-border transactions, and adherence to regulatory requirements to ensure transparency and prevent illegal activities.
NFTs, tickets and other payment solutions
Mastercard Crypto Credential plans to support various use cases, including NFTs, ticketing, and other payment solutions. According to Mastercard, when a user registers, the exchange verifies him according to Mastercard Crypto Credential standards. The user then gets a nickname to send and receive funds via supported exchanges. During the transfer process, Mastercard Crypto credentials verify the recipient's nickname and wallet compatibility.
Initially, a select group of cryptocurrency wallet users will use Mastercard Crypto credentials on a first-come, first-served basis. The program will eventually expand to include more than 7 million users across participating exchanges in the coming months.
