Mastercard, Borderless test shared identity checks for stablecoin transfers

Mastercard and Borderless are exploring ways to bring more trust into cross-border stablecoin transfers through the payment processing giant’s Crypto Credential framework.

Payment processor Mastercard and stablecoin orchestration network Borderless will run a new pilot project to explore how Mastercard’s Crypto Credential standards-based framework can bring greater trust to cross-border stablecoin payments.

The pilot will test how Mastercard’s framework can address the challenge of providing assurance signals that participants can incorporate into their approval, compliance and risk processes, they said in an announcement shared with Cointelegraph.

Mastercard’s framework uses common standards and assurance signals to help bring certainty to blockchain transactions. The pilot will seek out new governance signals that can reduce friction in cross-border stablecoin payments.