Mastercard Web3 Solution: A Gamechanger in Stopping Fraud!
According to recent news, the new Mastercard Web3 Solution provides secure transactions between users. The new solution verifies the transactions according to the standards set by the company.
Mastercard, a global financial service giant, initiates a new Web3 solution. This solution aimed to reduce the opportunities for bad actors and enhance user verification standards in the digital asset space.
Key Takeaways:
- Mastercard’s Web3 solution aims to enhance user verification and reduce bad actors in digital assets.
- Mastercard Crypto Credential provides vetted users with unique identifiers to verify legitimacy before transactions.
- The solution enables instant verification of transaction addresses and complies with Mastercard’s standards.
- Mastercard’s solution supports compliance by exchanging metadata and reduces the risk of lost funds.
- Mastercard collaborated with various partners, including crypto wallets and blockchains, to develop the solution.
INVESTOR_PANDA took to Twitter and made an announcement that the Mastercard crypto credential solution offers vetted users unique identifiers so that they can verify before making that they are dealing with legitimate people.
On 29 April, the solution announced was named MasterCard Crypto credential. The firm outlined a statement in an accompanying explainer video shared on Twitter. According to it, to help secure transactions, build a way between blockchain Web3 services providers. MasterCard standards verify this solution.
Moreover, a Mastercard crypto credential unique identifier will issue to the user as a part of the solution. This solution enables people to instantly verify the address to which they send funds. To send funds, this solution complies with the firm’s standards.
EmbraceNFT took to Twitter and made an announcement that the new solution of Mastercard revolves around offering secure transactions between users.
Furthermore, This solution supports compliance by exchanging essential metadata to meet the regulations. According to MasterCard, this solution reduces the opportunities for bad actors and the risk of funds being lost for good.
Fundamentally, even if bad actors slip through the cracks and obtain the unique identifier, Mastercard can move quickly to cancel their verification if they engage in nefarious activity.
Ourhealtho.com took to Twitter and made an announcement that two Curb Bad actors, Mastercard, initiated the Web3 user verification solution.
Behind the solution, the company named a long list of collaborators. MasterCard has partnered with crypto wallet providers on the wallet side, including Bit2Me, Lirium, Mercado, Bitcoin, and Uphold.
The company collaborated with Aptos, Polygon, Avalanche, and Solana regarding blockchains.