Borderless.xyz will explore how Mastercard Crypto Credential can help bring greater trust and confidence to cross-border stablecoin payments.
Borderless.xyz and Mastercard are collaborating on a new pilot to explore how Mastercard Crypto Credential’s standards-based framework can support trusted interactions across cross-border stablecoin payment flows.
Stablecoins are increasingly being used to move value across borders, creating new opportunities for faster and more efficient payments. As adoption grows, participants need trusted ways to understand who they are interacting with and whether counterparties have met appropriate standards and requirements.
Through the pilot, Borderless.xyz and Mastercard will explore how Mastercard Crypto Credential can address that challenge by providing assurance signals that participants can incorporate into their own approval, compliance and risk processes.
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Mastercard Crypto Credential helps support trusted and verifiable interactions across digital asset ecosystems. Through common standards and trusted assurance signals, it is designed to help bring more confidence, transparency and certainty to transactions across blockchain networks.
The collaboration pairs Mastercard’s work in building trust and standards for digital asset ecosystems with Borderless.xyz’s network of stablecoin payment providers. Together, the companies are exploring how trusted governance signals can help reduce friction and bring greater confidence to cross-border stablecoin payments as adoption grows.
“One of the biggest friction points for stablecoin payment operators isn’t the payments. It’s that compliance doesn’t scale the same way the network does. Every new provider means starting the verification process over. Correspondent banking solved this decades ago: originating compliance trusted downstream, no re-execution at every counterparty. Mastercard is applying that model to digital asset payments. Borderless.xyz is the network it runs through.” – Kevin Lehtiniitty, CEO and Co-Founder, Borderless.xyz.
“Innovation is most powerful when it builds over time. Our relationship with Borderless.xyz began through Start Path and has continued to grow as the digital asset ecosystem has matured,” said Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard. “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.”
The pilot brings together several of Borderless.xyz‘s network participants consisting of Infinia, Walapay, and Koywe, many of whom are also alumni of Mastercard Start Path, the company’s startup engagement program. These partners will leverage Mastercard Crypto Credential as some of the first stablecoin payment operators to run on the single-audit compliance model at network scale.
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