Crypto Credential provides a common usable credential for ID verified consumers from verified Virtual Asset Service Provider (VASPs). It also provides a safe way to exchange Personal Identifiable Information (PII) data to comply with Travel Rule regulations.
Crypto Credential will:
- Enable trust among participants as both End-Users and Crypto Credential Customers know they are transacting with ID verified end-users.
- Bring convenience to End-Users and Crypto Credential Customers by helping eliminate errors of sending digital assets to wrong blockchain address.
- Allow Compliance with Travel rule requirements by allowing a safe way to exchange Personally Identifiable Information (PII) data to comply with travel rule regulations.
Basic Construct of Crypto Credential is as illustrated in the following diagram.
Image from: https://developer.mastercard.com/crypto-solutions-api/documentation/mtid/