Mastercard is expanding its stablecoin payments infrastructure through a new pilot with global liquidity network Borderless.xyz that will test how its Crypto Credential framework can support trusted interactions across cross-border stablecoin payment flows, the companies announced Wednesday.
Mastercard Crypto Credential provides a framework for verifying participants in blockchain transactions through standardized assurance signals that can be integrated into compliance and risk processes, according to a statement shared with The Block.
The companies said they will use the pilot to evaluate how the framework performs across Borderless.xyz's stablecoin payments network, with participating firms incorporating its assurance signals into their approval, compliance, and risk workflows. “Our relationship with Borderless.xyz began through Start Path and has continued to grow as the digital asset ecosystem has matured," Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard, said.
"Today, we're excited to take the next step together, exploring how Mastercard Crypto Credential can help bring greater trust and confidence to stablecoin payment flows across a growing network of participants." Borderless.xyz operates a stablecoin orchestration and liquidity network and says it connects wallet infrastructure with more than 15 licensed stablecoin providers across more than 100 countries.
