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The world’s leading financial companies are slowly embracing the crypto world. The stakes are serious, but the dynamics are very different. We now have an example with Mastercard.
The world’s leading financial companies are slowly embracing the crypto world. The stakes are serious, but the dynamics are very different. We now have an example with Mastercard.
The major payments company has been allowing its customers to work with cryptocurrencies for several years, but now it has gone one step further with Mastercard Crypto Credential, a tool that aims to simplify the entire blockchain transfer process. And it’s doing this with the help of Bit2Me, a Spanish company specializing in crypto services.
Say goodbye to blockchain addresses. One of the problems with crypto trading is its apparent complexity. For example, when making a transfer, a long blockchain address is used instead of a phone number or name. This is the essence of crypto. Decentralized management and no need to depend on an external entity like Mastercard. But big companies want to get into this space, and they’re doing it their own way: they’re simplifying things to reach more users.
With MasterCard Crypto Credential, users will be able to send and receive cryptocurrencies using pseudonyms registered in the Mastercard system. A way to simplify transfers and maintain blockchain verification at the same time.
Sending cryptocurrencies between Latin America and Spain. The movement of money between Latin America and Europe is huge. Mastercard applies this system in countries that are very accustomed to sending money across the pond: Argentina, Brazil, Chile, Spain, France, Guatemala, Mexico, Panama, Paraguay, Peru, Portugal, Switzerland and Uruguay.
Bit2Me, Lirium and Bitcoin Market. To implement this tool, MasterCard has partnered with three specialized companies, one of which is Spanish. Bit2Me has been collaborating with Mastercard for some time, offering a card in Argentina, Colombia, Mexico and Brazil. Now this work in Latin America will be renewed with participation in Mastercard Crypto Credential and real-time P2P transactions.
Image | AltumCode
in Xataka | The Bank of Spain has already recognized its first cryptocurrency platform. This is just the beginning
Source: Xataka
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.
