Mastercard partners Solana and Polygon on new crypto standards system

  • Mastercard is looking to help bring defined standards to the blockchain and Web3 ecosystems.
  • The company is partnering blockchain platforms Polygon, Solana, Aptos Labs, and Ava Labs, on the common standards program it calls Mastercard Crypto Credential.
  • Mastercard will also work with wallet providers Uphold, Bit2Me, Lirium, and Mercado Bitcoin on the program.

Mastercard is partnering with several blockchain platforms in a bid to develop a new set of crypto standards aimed to boost the industry’s overall trust score.

In an announcement at Consensus 2023 on Friday, the payments firms said it was teaming up with Polygon, Aptos Labs, Solana Foundation and Ava Labs, to develop the Crypto Credential.


According to the company, the Mastercard Crypto Credential is an effort targeted at incorporating the best of common standards into the crypto infrastructure and broader space providers to help instill trust in crypto from consumers, businesses and governments.

Raj Dhamodharan, the head of crypto at Mastercard noted in a statement that building trust is a crucial step for the blockchain ecosystem as it looks towards mainstream adoption. Crypto Credential, he noted, is one way of pushing for “trusted, compliant, and verifiable” blockchain interactions.

With Mastercard Crypto Credential, we can help ensure that those interested in interacting across Web3 environments are meeting defined standards for the types of activities they’d like to pursue. Mastercard Crypto Credential will not only define verification standards and levels, but also provide necessary enabling technology to help bring more use cases to life” he added.

Standards for verification in NFTs

The common standards being advocated for will also help with instilling trust in NFTs, with the partners collaborating towards enhancing verification in NFTs. Mastercard will also work with blockchain firms around verification in ticketing and other payments solutions.

Solana, Polygon, Aptos Labs and Ava Labs are set to aid in having the new crypto standards available to and applied by developers within their ecosystems.

Other than that, crypto wallet providers Lirium, Uphold, Mercado Bitcoin and Bit2Me will look to tap into the standards for their cross border transfers. The platforms will initially focus on crypto payments and remittances within the United States, Latin America and the Caribbean corridors.

All Dutch and English crypto news!

European Commission selects Iota Web3 ID for blockchain sandbox

The European Commission’s selection of Iota’s Web3 ID solution highlights the solution’s potential to revolutionize KYC processes using distributed ledger technology and tokenization on a...

May crypto investments hit $1B driven by Notcoin launch — KuCoin

KuCoin Research believes that the low float, high FDV trend in crypto led investors to other options like Notcoin, which had all its tokens circulating...

Solciety, the Solana-based meme coin for the Degens, announces presale

Solciety is a new Solana meme coin launching in presale on June 18. The meme coin combines politics, political buzz and meme coins, offering the first...

Cruciaal moment aangebroken voor deze Ethereum-rivaal

De pseudonieme analist Credible Crypto zegt dat er momenteel sprake is van een “cruciaal moment” voor Solana. Als de Ethereum-rivaal er niet in slaagt om...

Beste exchanges

Koop je crypto bij Bitvavo