Mastercard launches Mastercard Crypto Credential to boost trust in blockchain

A Mastercard and Visa card in a wallet.

Mastercard has introduced Mastercard Crypto Credential, a set of common standards and infrastructure that will help verify interactions among consumers and businesses using blockchain networks.

Mastercard Crypto Credential aims to provide a foundation for financial institutions, governments, brands, and crypto players, ensuring that those interested in interacting across web3 environments are meeting defined standards for the types of activities they’d like to...

2 May 2023 | Banking

Visa and Mastercard delay new crypto partnerships

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Visa and Mastercard, the United States’ two largest payment processors, have delayed the launch of new crypto partnerships as bankruptcies and increased regulatory scrutiny continue to affect the industry.

The move, first reported by Reuters, comes after a period of improved cooperation between traditional payment firms and crypto companies.

Both Visa and Mastercard have been exploring using stablecoins like USD Coin for payments and transaction settlements in recent...

1 March 2023 | Banking

Bitcoin processes $187bn more in transactions per quarter than PayPal

Canary Wharf, London

The Bitcoin (BTC) network is now processing more volume in terms of transactions than payments platform PayPal, according to blockchain analysis firm Blockdata.

Looking at average transaction volumes, Blockdata says that the Bitcoin network outshone PayPal by $187 billion (£140.4bn) per quarter this year. An impressive overtake for a payments system twelve years younger than PayPal.

Blockdata reported that: “The Bitcoin network processed an estimated average of $489...

1 December 2021 | Banking

Mastercard buys blockchain analytics start-up CipherTrace

Mastercard - blockchain

Mastercard has entered into an agreement to purchase blockchain analytics start-up CipherTrace for an undisclosed amount.

The deal marks the latest sign that major corporates are warming towards cryptocurrencies, following similar trends amongst companies like Amazon and PayPal.

Based in California, CipherTrace develops tools and solutions to help government agencies and businesses detect and stamp out illicit digital currency transactions.

The company sits...

10 September 2021 | Banking

E-Livestock Global launches first-of-a-kind Mastercard blockchain-based solution

A cow licking its lips.

Venture Capital funded social enterprise, E-Livestock Global, has launched a solution powered by Mastercard’s blockchain-based Provenance solution, empowering Zimbabwean farmers to prove the origin and health records of their cattle, while reducing risks to buyers.

A first in the Middle East and Africa, the solution brings new hope to the country’s agricultural sector after an outbreak of tick-borne disease in 2018 led to the death of 50,000 cattle. The lack of a traceability...

23 June 2021 | Blockchain

Mastercard joins R3’s blockchain-powered Marco Polo Network

Mastercard has joined enterprise blockchain provider R3’s Marco Polo Network, which is powered by the latter’s decentralised database Corda.

The American financial services giant announced its participation in the project, developed jointly by R3 and Ireland’s TradeIX, in its most recent news release.

The Marco Polo initiative offers a multi-asset class platform that provides broker-dealer services, multicurrency transactions and more. The collaboration between...

6 September 2019 | Banking