Mastercard Says It Has Moved Beyond Experimentation in Crypto, Focused on 'Real Solutions'

cryptonews.net 18/02/2025 - 18:05 PM

Traditional Finance Embraces Crypto

Mastercard’s head of crypto and blockchain, Raj Dhamodharan, stated that traditional finance firms have moved beyond experimentation with cryptocurrency, focusing on real solutions. He highlighted that Mastercard now enables stablecoin payments for financial institutions, reflecting a broader adoption trend in crypto.

Partnership with Notabene

Recently, Mastercard announced a partnership with crypto compliance firm Notabene to integrate its Crypto Credential into the SafeTransact platform, enhancing security and user-friendliness for digital asset transactions.

Dhamodharan emphasized that the Crypto Credential system aims to make crypto mainstream. It allows users to send funds using familiar identifiers like email addresses instead of complex wallet addresses while ensuring compliance with regulations. It also prevents misdirected transactions by verifying recipients’ wallets.

Connecting Traditional Finance and Blockchain

Dhamodharan noted that a key barrier to mainstream crypto adoption is the need for consumers to connect using recognizable identifiers. Mastercard seeks to bridge traditional finance and blockchain networks, enabling new business models while ensuring regulatory compliance. More partnerships and use cases are expected in 2025.

Future of Tokenization

Dhamodharan expressed optimism about the future of tokenization, which requires new business models to meet rising demand from firms like BlackRock and Franklin Templeton. Clarity on how deposits can be represented on public chains could significantly scale this capability.

Looking ahead to 2025, Mastercard aims to facilitate smoother on-ramp/off-ramp processes between crypto and banking, expand Crypto Credential features, and focus on stablecoins as a seamless solution for transactions.

Read more: Mastercard and JPMorgan Link Up to Bring Cross-Border Payments on the Blockchain




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