Riding The Wave News Summary 142
Mastercard Launches Crypto Credential Service for Cross-Border Transfers, Venmo will enable fiat-to-crypto payments in May, & more.
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Tweets
Mastercard Launches Crypto Credential Service for Cross-Border Transfers
Bitcoin Use Cases Are Seeing ‘Explosive Growth,' Trust Machines Says
FDIC alleges Cross River engaged in ‘unsafe’ lending practices
Tweets
https://twitter.com/100trillionUSD/status/1652713693904347136
https://twitter.com/KobeissiLetter/status/1652689918806687746
https://twitter.com/DonMiami3/status/1652558869267185666
https://twitter.com/WhaleChart/status/1652538601752743937
https://twitter.com/KobeissiLetter/status/1652667866984898560
https://twitter.com/WhaleChart/status/1652389667877052417
https://twitter.com/therationalroot/status/1652216749415354368
https://twitter.com/KimDotcom/status/1652115686377033730
https://twitter.com/KobeissiLetter/status/1652157931310252032
Mastercard Launches Crypto Credential Service for Cross-Border Transfers
AUSTIN, Texas — The executive in charge of crypto products and blockchain at Mastercard (MA) said the payment processing company is bringing out a service designed to ensure transactions between users’ wallets are verifiable and compliant, beginning with transfers of digital assets between countries.
In this first cross-border use case, the Mastercard Crypto Credential service, announced Friday by Raj Dhamodharan from the stage at Consensus 2023, allows wallets to be identified in transactions that are compliant with requirements such as the Financial Action Task Force's (FATF) "travel rule."
Mastercard Crypto Credential, a set of common standards for attestation of interactions, uses technology from CipherTrace, the well-known blockchain analytics platform Mastercard agreed to acquire in late 2021.
Cross-border transactions have been a focus of blockchain tracker CipherTrace, the creator of a cryptocurrency system that helps companies comply with the travel rule. Under that rule, whenever crypto worth over $1,000 is transacted between two parties, the crypto service provider of the sender is expected to communicate the personally identifiable information of the sender to the crypto service provider of the recipient, and vice versa.
More use cases for the service, such as non-fungible token (NFT) transactions, will follow, Dhamodharan added.
Venmo will enable fiat-to-crypto payments in May
Users of mobile payments service Venmo will soon be able to buy cryptocurrencies and send them to other Venmo users or external wallets beginning in May, according to an April 28 announcement from PayPal executive Jose Fernandez da Ponte. PayPal is the parent company of Venmo.
An April 28 help page from Venmo’s website states that verified users will also be able to receive crypto from external addresses through a “crypto address QR code.”
Venmo started allowing crypto purchases in April 2021, and the app’s mobile version currently lists Bitcoin , Ether , Litecoin and Bitcoin Cash as options. Crypto features do not appear to be available on the desktop version.
Bitcoin Use Cases Are Seeing ‘Explosive Growth,' Trust Machines Says
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