Mastercard collaborates with Solana and Polygon to establish a new standard for "Crypto Credential."

ChainCatcher news, Mastercard is collaborating with public blockchain developers Aptos Labs, Ava Labs, Polygon, and Solana Foundation to establish a new standard called Crypto Credential, in an effort to build trust among consumers, businesses, and governments in the industry. Mastercard stated that the "Mastercard Crypto Credential" will create a set of universal standards and infrastructure that will help verify trustworthy interactions between consumers and businesses using blockchain networks, and noted that NFT projects require different verification requirements than those needed for sending or receiving cryptocurrencies. This new standard will "ensure that those interested in interacting across web3 environments can meet the established standards for the types of activities they wish to engage in."

Raj Dhamodharan, Mastercard's head of crypto and blockchain, stated in a statement, "Instilling trust in the blockchain ecosystem is a key step to realizing its full potential, and we need a way to enable trusted, compliant, and verifiable interactions on public blockchain networks." (Source link)