Mastercard Launches Bitcoin Card In Europe And UK

Bybit, the third most popular cryptocurrency exchange, announced the launch of a debit card issued by Moorwand and powered by Mastercard.

Read Full Story: Mastercard Launches Bitcoin Card

This Altcoin Issues Mastercard Reinforced Card: Price Skyrockets!

1inch Network, a decentralized exchange (DEX) aggregator, has introduced a crypto debit card powered by Mastercard with developer Baanx. Baanx’s “Crypto Life” card is also used by crypto storage company Ledger. Following this news, the altcoin price made a vertical upward move to the north. 1inch collaborates with Mastercard and Baanx, altcoin price skyrockets! DEX aggregator 1inch Network has…

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China Allows Visitors to Top Up Digital Yuan Wallets with Visa, Mastercard, Cash

China Allows Foreign Users of Its Digital Yuan to Preload Their E-CNY Wallets The operators of China’s central bank digital currency (CBDC) platform have upgraded its payment services to make the process of spending the digital yuan (e-CNY) more user-friendly to foreign nationals visiting the country, the state-run China.org.cn portal informed readers. The newly introduced “recharge before use” feature on the digital yuan app allows visitors to replenish the built-in e-CNY wallet using the online services of the leading global payment networks Visa and Mastercard. Foreigners can also load the Chinese digital currency wallet by depositing cash in a bank office. At the end of their stay, they will be able to return any remaining balance to their overseas bank card or account used in the beginning. The report notes that as mobile payments have become more dominant in China than other regions, the new option will offer foreigners a better experience during their visit. Previously, they could not top up their e-CNY wallets in advance, the article recalled. The change will provide foreign users with equal access to more convenient payment methods such as the “quick pay” option. It will also let them spend their e-CNY both at physical stores accepting the digital currency as well as online platforms such as ride-hailing app Didi, takeaway service provider Meituan, travel portal Ctrip, and e-commerce retailer JD. According to Dong Ximiao, chief researcher at Merchants Union Consumer Finance, the upgrade will create a more convenient payment environment for people visiting China. Zhou Maohua, an analyst at China Everbright Bank, believes it will also increase the presence of the digital yuan in cross-border transactions. Both are convinced that the move will promote the Chinese CBDC internationally. China has been developing the digital version of the yuan since 2014 and has launched a number of trials in the past couple of years. At the end May, its central bank announced that e-CNY transactions in trial regions had reached 264 million, totaling 83 billion yuan ($11.4 billion) in value. By the end of June, they were already at 1.8 trillion yuan ($250 billion) with 16.5 billion digital yuan in circulation. Do you think the latest update of the digital yuan payment system will convince more visitors to use the CBDC? Tell us in the comments section below. Read the full article

Ripple Betrayed Its Principles

Initially Ripple positioned itself as a decentralized platform. But lately there have been some changes not for the better.

According to Coinmarketcap, Mastercard followed Visa and it is considering implementing a Ripple-based CBDC. According to Raj Dhamodharan, Head of Digital Assets at Mastercard, “We believe that an important part of a prosperous economy is the ability to choose the best payment methods.”

Lado Okhotnikov sees no problem in the fact that digital money will replace cash, "As for the cryptocurrency, here we can also say that the crypto will not notice the emergence of CBDC. The digital currency of the central bank will not affect anyhow the cryptocurrency market development. And cryptocurrency rates will not respond anyway to the emergence of this type of money."

There is nothing wrong with Ripple helping central banks adopt blockchain. However, Vladimir Okhotnikov believes that the company, which called itself decentralized, and now intends to go under management, has no future in the crypto.

How Mastercard’s Web3 Solution Fights Fraud With Blockchain

Mastercard has announced a new web3 solution “Mastercard Crypto Credential” that leverages blockchain technology to prevent fraud and protect consumers. The solution enables secure and transparent transactions across different platforms and networks. This innovative solution uses biometric and other authentication methods like facial recognition and fingerprint scanning to verify users and addresses, reducing opportunities for bad actors to exploit the system. Additionally, it facilitates compliance with regulations by exchanging essential metadata, minimizing the risk of funds being lost for good.

Key Highlights

The “Mastercard Crypto Credential” solution uses biometric and other authentication methods to verify users and addresses and facilitates compliance by exchanging essential metadata to meet regulations.

The solution provides a unique “Mastercard crypto credential identifier” to customers to confirm if they are sending funds to a verified address that meets Mastercard’s standards.

Mastercard collaborated with Bit2Me, Lirium, Mercado Bitcoin, and Uphold, among other companies, to develop the solution.

The company also partnered with Aptos Labs, Ava Labs, Polygon Labs, and The Solana Foundation to focus on blockchain technology.

To verify addresses and support Travel Rule compliance for cross-border transactions, Mastercard plans to use CipherTrace’s services, including CipherTrace Traveler.

Partnering with companies like Bit2Me, Lirium, Mercado Bitcoin, and Uphold, and technology providers like Aptos Labs, Ava Labs, Polygon Labs, and The Solana Foundation, Mastercard is committed to providing innovative solutions for its customers. The use of CipherTrace’s services, including CipherTrace Traveler, will help Mastercard verify addresses and provide a transparent audit trail, ensuring compliance with regulations.

The launch of the “Mastercard Crypto Credential” solution is not just a move towards increasing the security of digital assets but also towards bridging the gap between traditional finance and the emerging crypto industry. It will increase user confidence in the technology and encourage more widespread adoption of blockchain-based platforms.

In collaboration with Polygon, Mastercard has also recently launched a non-fungible token (NFT) gated musician accelerator program. This program empowers musicians and artists by providing them with the necessary tools and resources to build their own NFT projects. This move highlights Mastercard’s commitment to promoting blockchain-based technologies and its belief in the transformative power of NFTs.

In conclusion, Mastercard’s “Mastercard Crypto Credential” solution is a significant move towards improving the security of digital assets and reducing web3 fraud. It showcases the company’s commitment to providing innovative solutions for its customers, promoting blockchain-based technologies, and bridging the gap between traditional finance and the emerging crypto industry. To get more insights on blockchain, crypto, NFTs, subscribe to my newsletter and check out my Twitter and Medium accounts. I post valuable content on these platforms regularly.

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What is Mastercard’s Web3 solution?

With Mastercard’s Web3 solution, you can enjoy a secure and seamless way to verify your identity and compliance when you use blockchain transactions. You can use your face, fingerprint, or other biometric methods to prove who you are and where you want to send your funds.

What are the benefits of Mastercard’s Web3 solution?

Mastercard’s Web3 solution is designed to protect your security, privacy and compliance in the digital asset space. You can avoid fraud and bad actors by verifying the users and addresses you interact with. You can also comply with regulations by exchanging the necessary metadata with your transactions.

How does Mastercard’s Web3 solution work?

Mastercard’s Web3 solution gives you a unique identifier, called the “Mastercard Crypto Credential.” This identifier lets you instantly check that the address you want to send funds to has been approved by Mastercard and follows their standards.

Who are the partners of Mastercard’s Web3 solution?

Mastercard has teamed up with several crypto wallet providers and public blockchain networks to bring you the Web3 solution. You can choose from a variety of wallet providers, such as Bit2Me, Lirium, Mercado Bitcoin and Uphold. You can also access different blockchain networks, such as Aptos, Avalanche, Polygon and Solana.

When was Mastercard’s Web3 solution launched?

Mastercard launched the Web3 solution on April 29, 2023, to provide you with a better way to use blockchain transactions.

Payments giant, Mastercard, has entered into a partnership with Immersve, Web3 payment protocol, thus allowing its users to make crypto payments both across the digital and Metaverse worlds. For this, USDC tokens will be used to facilitate transactions on Mastercard’s network. One of the largest payment rails in the world, Mastercard, is foraying into the immersive world. Its Web3 users can now use decentralised protocols to settle real-time cryptocurrency transactions. Now, users can make use of their Web3 wallets to make direct crypto payments without depending upon a third party for collateral. In other words, users will be in complete control of their digital currencies. #cryptoding #cryptocurrency #crypto #bitcoin #mastercard #mastercardpayments #bitcoinpayment #web3 https://www.instagram.com/p/CpK9wlWpjpv/?igshid=NGJjMDIxMWI=

DeFi Firm 1inch Introduces Web3 Debit Card in Partnership with Mastercard and Baanx

Decentralized exchange (DEX) aggregator 1inch Network has created a Web3 debit card in partnership with crypto card developer Baanx and powered by payments giant Mastercard, the companies said on Tuesday. The 1inch Card will allow users to use their crypto for online and in-person purchases and make cash withdrawals at supported ATMs through seamless crypto-to-fiat conversion, according to a…

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Stablecoins overtake Mastercard and American Express in transaction volume in 2022

Stablecoins overtake Mastercard and American Express in transaction volume in 2022

According to The Defiant, according to data from CoinMetrics, stablecoins set a new record for total settlement volume this year, outperforming all major credit card issuers except Visa. It is noted that this happened, even despite the turmoil in the cryptocurrency market in 2022. In total, in 2022, transactions were made in stablecoins in the amount of $7.4 trillion (which corresponds to a 600%…

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NFT Art will be on Mastercards

Have you heard that NFT Art will be on Mastercards?💳 ⠀ Yes, that’s true! They actively work on it!☄️ ⠀ This shows again and again that NFT topic is getting more popular and we’re very excited about that! ⠀ Mastercard and hi’s new card will support NFTs from a limited range of NFT collections: CryptoPunks, Moonbirds, Goblins, Bored Apes, and Azukis.

MakeBetterMe

We, MakeBetterMe team, want to be perspective and we are! Before it becomes mainstream, our users will already be part of it. ⠀ The more big brands like Mastercard experiment with NFTs, the greater their mainstream appeal will grow, which expedites adoption of the tech. Shortly this means that we shouldn’t waste time!💪 ⠀ Would you like to become part of our community?🔥

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