Mastercard Launches Crypto P2P Payment Network for Cross-Border Transfers Across 14 Countries

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The global financial landscape is undergoing a transformative shift, and Mastercard is positioning itself at the forefront of this evolution with the launch of its new Crypto Credential network—a secure, compliant, and user-friendly point-to-point (P2P) payment platform designed for cryptocurrency users across Europe and Latin America.

This innovative initiative enables seamless cross-border crypto transactions between 14 countries, bridging continents and digital ecosystems. By integrating trusted crypto exchanges such as Bit2Me, Lirium, and Mercado Bitcoin, Mastercard is creating a unified infrastructure that supports multi-currency and cross-chain transfers, setting a new benchmark for transparency and trust in digital asset payments.

Bridging Trust Gaps in Crypto Transactions

One of the most persistent challenges in the cryptocurrency space has been the lack of identity verification and regulatory compliance. Peer-to-peer transactions often occur without verified identities, increasing risks of fraud, scams, and irreversible errors.

Mastercard’s Crypto Credential network directly addresses these concerns by ensuring that all participants in a transaction are authenticated and compliant with anti-money laundering (AML) and know-your-customer (KYC) standards. This verification layer adds a critical level of security and accountability, making crypto transfers safer for individuals and institutions alike.

Walter Pimenta, Executive Vice President of Products and Engineering at Mastercard for Latin America and the Caribbean, emphasized the importance of trusted interactions on public blockchains:

"As interest in blockchain and digital assets continues to grow across Latin America and beyond, it's essential to enable reliable and verifiable interactions on public blockchain networks."

This strategic focus underscores Mastercard’s long-term vision: not just to facilitate crypto payments, but to embed trust, identity, and compliance into the very fabric of decentralized finance.

👉 Discover how secure digital wallets are shaping the future of global payments.

Simplifying Wallet Addresses with Crypto Aliases

A major usability hurdle in crypto adoption has been the complexity of wallet addresses—long strings of alphanumeric characters that are prone to input errors.

To solve this, Mastercard is introducing crypto aliases—human-readable names that act as simplified identifiers for cryptocurrency wallets. These aliases function similarly to Ethereum Name Service (ENS) domains on the Ethereum network, allowing users to send funds using easy-to-remember names instead of complex addresses.

For example, instead of sending funds to 0x742d35Cc6634C0532925a3b8D4C7d2fD63B6eF31, a user could simply send to alice.crypto. This improvement significantly enhances user experience and transaction accuracy, especially for non-technical users entering the crypto economy.

These aliases are expected to play a key role in driving mass adoption, particularly in remittance services, where ease of use and reliability are paramount.

Expanding Reach Through Strategic Partnerships

Mastercard is broadening the reach of its pilot program through strategic collaborations with leading crypto platforms. The inclusion of Foxbit, a major Brazilian digital asset platform, and the integration between Lirium and Lulubit, expands access to a wider consumer base across Latin America.

Such partnerships not only increase geographic coverage but also enhance interoperability across different blockchain ecosystems. This multi-platform approach ensures that users can transact seamlessly regardless of their preferred exchange or wallet provider—laying the groundwork for a truly interconnected global crypto payment network.

These integrations also reflect Mastercard’s commitment to building an open ecosystem rather than a closed proprietary system. By working with existing market players, the company accelerates adoption while maintaining high standards for security and regulatory alignment.

👉 See how blockchain interoperability is revolutionizing cross-border finance.

Beyond Payments: Future Applications in NFTs and Digital Ticketing

While cross-border P2P payments are the initial focus, Mastercard envisions extending the utility of its Crypto Credential network to other blockchain-based applications.

Potential use cases include:

By designing the system with scalability and flexibility in mind, Mastercard aims to support a wide range of decentralized applications (dApps) that require trusted identity layers—further blurring the lines between traditional finance and Web3 innovation.

This expansion aligns with growing consumer demand for transparent, tamper-proof digital systems across multiple industries—from entertainment to real estate.

Tapping Into the Booming Remittance Market

The timing of this launch is particularly strategic given the rapid growth of global remittances. According to data from the United Nations International Organization for Migration, **global remittance flows reached $831 billion in 2022**, up nearly 16% from $717 billion in 2020.

Much of this growth comes from Latin America and other emerging markets—regions where cross-border payments are often slow, expensive, and inaccessible through traditional banking channels. Cryptocurrency offers a faster, cheaper alternative, especially when powered by a trusted intermediary like Mastercard.

With its new P2P platform, Mastercard is well-positioned to capture a significant share of this expanding market. By combining the speed of blockchain with the reliability of a global payment network, it offers a compelling solution for migrant workers sending money home—delivering value not just in cost savings but also in speed and security.

👉 Explore how digital assets are transforming international money transfers.

Frequently Asked Questions (FAQ)

What is Mastercard’s Crypto Credential network?

The Crypto Credential network is a secure P2P payment platform developed by Mastercard that enables verified cryptocurrency transactions across borders. It ensures user identity validation and regulatory compliance while supporting multi-currency and cross-chain transfers.

Which countries are included in the pilot program?

The pilot currently supports 14 countries across Europe and Latin America. Specific nations include Spain, Portugal, Brazil, Mexico, Argentina, Chile, Colombia, Peru, and others—though exact participation may vary based on partner availability.

How do crypto aliases work?

Crypto aliases are user-friendly names linked to cryptocurrency wallet addresses. Similar to email addresses or ENS domains, they allow users to send and receive digital assets without handling complex strings of characters—reducing errors and improving accessibility.

Is this service available to individual consumers?

Currently in pilot phase, access is limited to users through partnered exchanges like Bit2Me, Lirium, Mercado Bitcoin, and Foxbit. Wider consumer availability is expected as the network scales.

Can I use any cryptocurrency on this network?

The platform supports multiple cryptocurrencies and operates across different blockchains. Exact supported assets depend on the participating exchange or service provider integrated into the network.

Does Mastercard store my private keys?

No. Mastercard does not hold or manage private keys. The Crypto Credential system focuses on identity verification and transaction routing—not wallet custody—ensuring users retain full control over their funds.

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