Mastercard Launches Crypto Credential Service for CrossBorder Transfers

The set of verification standards uses technology from CipherTrace, the wellknown blockchain analytics platform Mastercard agreed to acquire in late 2021.

AUSTIN, Texas — The executive in charge of crypto products and blockchain at Mastercard (MA) said the payment processing company is bringing out a service designed to ensure transactions between users’ wallets are verifiable and compliant, beginning with transfers of digital assets between countries.

In this first crossborder use case, the Mastercard Crypto Credential service, announced Friday by Raj Dhamodharan from the stage at Consensus 2023, allows wallets to be identified