Payment giant Mastercard has announced the pilot launch of the Crypto Credential service for cryptocurrency transfers between users.
Before making a transaction, each client will receive a human-readable identifier similar to ENS domains. The participants of the operation will not have to provide cumbersome crypto wallet addresses, and Mastercard, for its part, guarantees the verification of each user.
"Crypto Credential notifies which assets or networks are supported by the recipient, which increases trust and confidence in these transactions," the company said.
The service supports domestic and international transfers, while respecting the Travel Rule, that is, it collects and stores information about transactions.
Currently, the service is available to users of Bit2Me, Lirium, Mercado bitcoin exchanges, as well as Foxbit and Lulubit wallets in Argentina, Brazil, Chile, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Spain, Switzerland and Uruguay.
In the future, in addition to P2P transactions, Crypto Credential plans to support NFT transfer, ticket purchase and other payment solutions.
Recall that in April, Mastercard, together with the 1inch Network DeFi project and Crypto Life, introduced a Web3 debit card.