Mastercard has launched Crypto Credential solution for the people of UAE and Kazakhstan in the EEMEA region.
Cumbersome and complicated blockchain addresses have finally been relegated to the crypto graveyard. Why remember blockchain addresses when you can send and receive cryptocurrencies using simple aliases?
This game-changing tech, built through partnerships with exchanges like ATAIX Eurasia, Intebix and CoinMENA, makes transactions smoother and safer. Plus, it ensures your recipient’s wallet supports the assets you are transferring, minimising errors and building trust.
“Crypto is maturing, and we’re all about making it accessible, secure, and trustworthy,” said Gaurang Shah, Mastercard’s EVP of Core Payments for EEMEA. With this move, Mastercard is doubling down on its vision to transform how people interact with digital assets.
🔈Mastercard launches Crypto Credential in UAE and Kazakhstan, simplifying blockchain transactions with secure aliases and expanding crypto accessibility in the EEMEA region. pic.twitter.com/Z8U72mGJJu
— Jesse Trading (@TradeWithJesse) January 9, 2025
Launch of MasterCard Crypto Credentials Is Set to Shake Things Up
Things are about to get a lot spicier, driving the mainstream adoption of digital assets across global markets. Mastercard’s collaboration with highly regulated crypto exchanges makes it that much easier and safer for beginners to dip their toes into the blockchain world.
Also, it is a game changer for financial freedom, especially for the millions of unbanked people worldwide as it removes third parties, instead leveraging smart contracts to make transactions smoother, faster and more scalable.
As the global financial system continues shifting toward blockchain, Mastercard is attempting to position itself as a key player.
With the cryptocurrency industry expected to grow exponentially and potentially rival gold’s $18 trillion valuation, Mastercard’s $473 billion empire is primed for long-term growth
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What’s Next on the Horizon for Crypto Credentials?
As it stands, the current pilot focuses on peer-to-peer transactions. However, there are some big moves planned by Mastercard.
The company envisions a future where the solutions play a pivotal role in revolutionising how digital assets are used in various industries. Think NFTs, ticketing and next-gen payment solutions albeit depending on market demand and compliance.
The inclusion of the UAE and Kazakhstan marks an important milestone for the Crypto Credential network as they join a growing list of global markets already benefitting from this technology. This network spans North America, Europe, Latin America and Asia Pacific.
Initially, the rollout of this feature is being limited to select crypto wallet users on an invite-only basis.
However, Mastercard is working towards a gradual expansion in accessibility, with wider availability expected in the coming months.
As the ecosystem grows, more users will have the opportunity to experience this new feature.
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Disclaimer
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