Purchase, NY, Tuesday, June 4, 2024 – Mastercard is streamlining cryptocurrency transactions with the launch of its Crypto Credentials system.
This pilot program aims to ease the complexities often associated with sending and receiving digital assets.
Traditionally, crypto transactions involve lengthy and complex blockchain addresses, posing a risk of human error. Mastercard’s Crypto Credentials replace these addresses with user-friendly aliases, verified by Mastercard itself. This not only simplifies the process but also enhances security by ensuring compatibility between sender and receiver wallets.
“Crypto Credentials is a significant step forward in making cryptocurrency transactions more accessible and user-friendly,” said a Mastercard spokesperson. “By eliminating the complexities of blockchain addresses, we are encouraging broader adoption of digital currencies.”
The pilot program is currently underway with select cryptocurrency exchanges in Europe and Latin America. Users can leverage their Crypto Credentials aliases to send and receive various cryptocurrencies across borders, adhering to global regulations like the Financial Action Task Force’s Travel Rule.
