Mastercard is partnering with Web3 companies on an on-chain identity and verification framework
IN BREIF:
- Mastercard Crypto Credential will help realise the full potential of on-chain and cross border transactions
- Framework will cover a variety of applications in payments, remittances, ticketing and NFTs
- Initial partners include crypto wallet providers Bit2Me, Lirium, Mercado Bitcoin and Uphold
What does this mean?
Raj Dhamodharan, EVP, digital asset and blockchain product and partnerships, Mastercard, says: "With Mastercard Crypto Credential, we can help ensure that those interested in interacting across Web3 environments are meeting defined standards for the types of activities they’d like to pursue. Mastercard Crypto Credential will not only define verification standards and levels, but also provide necessary enabling technology to help bring more use cases to life."
