- MoonPay and Mastercard have formed a collaboration to introduce additional Web3 technologies.
- MoonPay intends to enhance trust, compliance, and efficiency in Web3.
- MoonPay will leverage Mastercard’s Crypto Credential standards to validate interactions between consumers and businesses.
MoonPay collaborates with Mastercard to incorporate additional Web3 technologies to enhance experiential marketing. MoonPay, a crypto payment service, shared on its website that it is teaming up with Mastercard to drive innovation and strengthen consumer connections.
In the announcement, MoonPay claimed that by embedding Mastercard products and solutions, they would be able to drive “trust, compliance, and efficiency” within the Web3 ecosystem. Furthermore, MoonPay’s CEO, Ivan Soto-Wright believed that this collaboration was a “big step forward for Web3.”
Soto-Wright stated that by collaborating with Mastercard, which is a prominent supporter of Web3 and the digital economy, they would be able to redefine customer loyalty and engagement.
He said, “Joining forces will create new opportunities to showcase blockchain’s potential in establishing unique connections and meaningful moments while broadening our industry’s overall reach.”
According to the announcement, MoonPay will leverage the Mastercard Crypto Credential, which is a set of standards that helps validate interactions between consumers and businesses. Moreover, the crypto firm will explore how Mastercard’s leading payments technology could be integrated into MoonPay’s Web3 stack.
MoonPay’s President of Enterprise, Keith Grossman, shared that both companies have been building to enhance the experience for their customers. He added, “Mastercard will take advantage of MoonPay’s entire Web3 portfolio,” including authentication, minting, and ETHPass.
This isn’t Mastercard’s first collaboration in the Web3 realm. Mastercard has launched a CBDC Partner Program to facilitate collaboration between key players in the blockchain industry. Some of the partners in this collaboration include Ripple and Consensys.
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