Traditional financial companies that have adopted cryptographic are passing beyond the experimentation phase and are actively working on real world solutions, he told Coindesk, chief of cryptographic and Mastercard blockchain, Raj Dhamiodharan.
“Many of us in the industry are moving beyond experimentation; Actually, they are real solutions, “he said, and pointed out that Mastercard has already enabled Stablecoin payments for financial institutions. These institutions can choose to resolve transactions using STABLECINS, which reflects a broader trend in cryptographic adoption.
Last week, the giant of the payments announced an association with the firm of compliance with Cripto Notabene, which will integrate Mastercard’s Crypto credential into its Safetransact platform to make digital asset transactions more and more easy and easy to use.
The cryptographic credential system remains a focus of Mastercard’s efforts to make cryptography more conventional. It allows users to send funds using family identifiers as email address instead of complex wallet addresses while guaranteeing compliance with regulatory standards. The system also helps prevent poorly directed transactions by verifying whether a recipient’s wallet can receive a specific asset.
“What are you stopping [crypto] To go to the mainstream is really that consumers need to be able to find themselves using what they already know, ”said Dhaminharan.
The objective of Mastercard, according to Dhaminharan, is to be a connector between traditional finance and blockchain networks, ensuring regulatory compliance while allowing new business models. The company plans to announce additional associations and cases in 2025, reinforcing its commitment to integrate cryptography into global payments.
“As an industry as a whole, we must be very open to do [crypto] Available as widely as possible, ”he said.
Previously, the giant of the payments was associated with several crypto-national companies, including Binance. The two paths separated in August 2023 after Binance faced a series of legal problems in the US mastercard. Uu. He controlled users to buy Crypto in the exchange again a year later.
“Binance is a great partner of ours,” said Dhaminharan. “We continue associated with them in several new ways in which we can help them with the ramp and ramp outside the ramp. Those are continuous conversations. “
Carrying crypto to the ‘next level’
Dhamiodharan is also optimistic about the future of tokenization, which according to him will require new business models to feed the growing demand for real world token assets by companies such as Blackrock and Franklin Templeton.
“If there is more clarity over time in terms of how deposits can be represented in some way in the public chain, from a regulatory point of view, I think this can even go to the next level in terms of how it can climb.” said.
In 2025, the MasterCard approach is found in the input/output ramp between cryptography and the banking world, while making this process as soft and safe as possible, as well as expanding characteristics and functions of its product Crypt’s credential. The third approach is Stablecoins, the company said.
“We believe that the future will be a world of both deposits because that is where money is, and that is where people and companies have money and stable, which can easily move in the chain and establish themselves easily.”
Read more: Mastercard and JPMorgan come together to bring cross -border payments in the block chain
