📱Mastercard Launches "Crypto Credential" to Replace Wallet Addresses with Usernames

📱Mastercard Launches "Crypto Credential" to Replace Wallet Addresses with Usernames

The service allows users to send and receive digital assets using a Mastercard Crypto Credential pseudonym/usernameinstead of a blockchain address. It will be available in Brazil 🇧🇷 , Chile🇨🇱, France🇫🇷, Guatemala🇬🇹, Mexico🇲🇽, Panama🇵🇦, Paraguay🇵🇾, Peru🇵🇪, Portugal🇵🇹, Spain🇪🇸, Switzerland🇨🇭, and Uruguay🇺🇾.

🔣 For now, the service will work in P2P transactions and will be supported by the wallets Foxbit and Lulubit, but it aims to expand to NFTs and airline ticket purchases in the future.

🔣 Verification is not eliminated: The user will only obtain the pseudonym after passing Mastercard's standard verification process. When the person transfers cryptocurrencies the system will verify if the pseudonym is valid and if the recipient's network address is compatible with the token and blockchain related to the transaction. If not, the funds will simply not be transferred.

🔣 Pseudonyms can also protect against address poisoning fraud.

🔣 Currently, the service is available on the Bitcoin exchanges Bit2Me, Lirium, and Mercado.
Recently, Mastercard joined a major bank alliance to test distributed ledger technology for settling digital asset transfers between companies… They are definitely on the move.

#crypto #world_wide #news

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