XRP rival Stellar (XLM) has partnered with Mastercard’s crypto payment solution.
Mastercard Crypto Credential aims to use blockchain networks to verify interactions between consumers and businesses.
The product allows payers to send cryptocurrencies using the recipient’s email address instead of a long blockchain address.
Stellar and Mastercard are partnering to enable money transfers and peer-to-peer transfers by embedding Crypto Credentials into the blockchain ecosystem, according to a new press release.
Let’s talk about Stellar Development Foundation.
“As an extension of our partnership, Mastercard and Stellar will explore how Mastercard’s wide range of services can be leveraged on Stellar’s network, opening the door to new and innovative applications of blockchain technology.
The partnership will make Mastercard Crypto Credential available to exchanges and digital asset wallet providers Coins.ph, Mercado Bitcoin, and Wirex.
Coins.ph CEO Wei Zhou said the partnership is a “perfect fit” for his Philippines-based exchange.
“In 2023, remittances to the Philippines will reach $37.2 billion, highlighting the huge potential to bring millions of people on-chain, many of whom will be able to make fast, low-cost cross-border transactions.” Through our collaboration, you will experience the benefits of cryptocurrencies for the first time. ”
Mastercard announced Crypto Credential in 2023. The payment solution went live with its first peer-to-peer pilot transactions earlier this year.
At the time of writing, XLM is trading at $0.0951. The 37th-ranked cryptocurrency by market capitalization has risen nearly 3% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
