Mastercard brings p2p aliases for crypto transfers in UAE, Kazakhstan: report

Mastercard brings its Crypto Credential solution to the EEMEA region, starting with the UAE and Kazakhstan.

Payments processor Mastercard has rolled out its Crypto Credential solution in the UAE and Kazakhstan, marking its first move into the EEMEA region. The new service makes crypto transfers easier by letting users send and receive tokens using simple aliases instead of complicated blockchain addresses, the company said in a press release on Jan. 9.

The expansion will help exchanges like ATAIX Eurasia, Intebix, and CoinMENA, along with Fuze, a digital asset provider, streamline blockchain transactions, the company says.

Mastercard’s EVP for core payments in the region, Gaurang Shah, said the company has been “laser focused on developing innovative services and capabilities that help make crypto more accessible and secure.”

Mastercard Crypto Credential was first unveiled in 2023 to help simplify and secure crypto transactions across different blockchain networks. The idea is to make crypto exchanges easier by offering a way to verify users’ identities and ensure that the right assets go to the right wallets.

However, the concept of blockchain aliases isn’t entirely new. Platforms like Unstoppable Domains have been offering blockchain-based aliases for years, allowing users to replace lengthy blockchain addresses with user-friendly names.