Mastercard Launches 'Crypto Credential' to Simplify and Secure Digital Transactions

The new service replaces complex wallet addresses with user-friendly aliases, reducing errors and scams in crypto transfers.

Mastercard's Crypto Credential service aims to make peer-to-peer crypto transfers easier by using simple aliases instead of long addresses.
The service verifies user identities and checks compatibility before processing transactions to prevent errors and loss of funds.
Currently available on Bit2Me, Lirium, Mercado Bitcoin, and FoxBit exchanges, with plans to expand to more countries in Europe and Latin America.
Aliases help protect against address poisoning scams, a common issue in the crypto space.
Mastercard's initiative could drive broader adoption of digital assets by making transactions more user-friendly and secure.