This innovation, simplifying and securing blockchain transactions, is live on Bit2Me, Lirium, and Mercado Bitcoin.
These platforms now facilitate straightforward and secure blockchain transactions between Latin American and European corridors. Let’s see more about credential aliases.
Crypto Transactions Made Easy and Secure
According to its blog post, this new feature is available to users in Argentina, Brazil, Chile, France, Guatemala, among many other countries. It enables cross-border and domestic transfers across various currencies and blockchains, making transactions more accessible.
Also, Foxbit, a crypto wallet provider, has joined this initiative by expanding its reach to even more consumers. Additionally, Lulubit users will also gain access via Lirium, expanding the reach of simplified crypto transactions.
Source: X
Mastercard Crypto Credential is designed to verify interactions between consumers and businesses on blockchain networks. It ensures that users meet specific verification standards and confirms that the recipient’s wallet supports the transferred asset. By exchanging metadata, Mastercard Crypto Credential simplifies knowing which assets or chains recipients support. This brings more trust and certainty to these transactions.
One of the key features of Mastercard Crypto Credential is its support for the exchange of Travel Rule information for cross-border transactions. The Travel Rule is a regulatory requirement designed to ensure transparency and prevent illegal activities in the crypto space. By supporting this rule, Mastercard Crypto Credential not only enhances transaction security but also aligns with global regulatory standards.
The peer-to-peer (P2P) transaction capability is just the beginning of the potential applications for Mastercard Crypto Credential. Future use cases may include NFTs, ticketing, and various payment solutions, depending on market demands and compliance requirements.
Disclaimer
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