MasterCard has launched its Crypto Credential solution for the people of the UAE and Kazakhstan in the EMEA region.
Cumbersome and complex blockchain addresses have finally been consigned to the cryptocurrency graveyard. Why remember blockchain addresses when you can send and receive cryptocurrencies using simple pseudonyms?
This game-changing technology, created through partnerships with exchanges such as ATAIX Eurasia, Intebix and CoinMENA, makes transactions smoother and more secure. Additionally, it ensures that the recipient’s wallet supports the assets you are transferring, reducing errors and building trust.
“Cryptocurrencies are maturing, and we are striving to make them accessible, secure and trustworthy,” said Gaurang Shah, Executive Vice President of Basic Payments at Mastercard for EMEA. With this move, Mastercard doubles down on its vision to transform how people interact with digital assets.
Mastercard launches Crypto Credential in the UAE and Kazakhstan, simplifying blockchain transactions using secure pseudonymization and expanding access to crypto in the EEMEA region. pic.twitter.com/Z8U72mGJJu
— Jesse Trading (@TradeWithJesse) January 9, 2025
The launch of MasterCard Crypto Credentials is set to change things
Things are about to get even more exciting, leading to mainstream adoption of digital assets across global markets. Mastercard’s collaboration with highly regulated cryptocurrency exchanges makes it easier and safer for beginners to dip their toes into the world of blockchain.
It is also a game-changer in terms of financial freedom, especially for the millions of unbanked people around the world as it removes third parties, instead leveraging smart contracts to make transactions smoother, faster and more scalable.
As the global financial system continues to shift towards blockchain technology, Mastercard is trying to position itself as a major player.
With the cryptocurrency industry expected to grow exponentially and possibly rival gold’s $18 trillion value, Mastercard’s $473 billion empire is poised for long-term growth.
Explore: MetaMask partners with Mastercard and Baanx to launch crypto debit card
What’s next on the horizon for crypto credentials?
Currently, the current pilot program focuses on peer-to-peer transactions. However, there are some big moves that Mastercard is planning.
The company envisions a future where solutions play a pivotal role in revolutionizing how digital assets are used across various industries. Think NFTs, ticketing and next-generation payment solutions, albeit dependent on market demand and compliance.
The inclusion of the UAE and Kazakhstan represents an important milestone for the encrypted credential network as they join a growing list of global markets already leveraging this technology. This network extends to North America, Europe, Latin America and Asia Pacific.
Initially, the rollout of this feature is limited to select cryptocurrency wallet users on an invitation-only basis.
However, MasterCard is gradually expanding access, with wider availability expected in the coming months.
As the ecosystem grows, more users will have the opportunity to try this new feature.
Explore: Mastercard has been reinstated as a payment option on Binance after a 10-month ban
The post MasterCard Expands Crypto Solutions to UAE and Kazakhstan appeared first on 99Bitcoins.