In a major collaboration, Coins.ph, Stellar, and Mastercard have joined forces to make crypto transactions easier and more secure. The partnership aims to improve the way users send and receive money using cryptocurrencies, especially for remittances.

How It Works

Mastercard’s new solution allows people to send crypto payments using just the recipient’s email address. The system verifies if the recipient’s wallet can accept the chosen digital asset and ensures that the transaction follows regulatory rules. This service will run on the Stellar blockchain, known for its fast processing times and low fees. The goal is to make sending money faster and more transparent, just like traditional money transfers, but using blockchain technology.

Key Quotes:

• Wei Zhou, CEO of Coins.ph, said, “Mastercard’s Crypto Credential on Stellar is perfect for us. The Philippines has huge remittance potential, and this partnership will bring millions of Filipinos on-chain, offering faster, low-cost transactions.”
• Raj Dhamodharan, EVP at Mastercard, added, “We created Mastercard Crypto Credential to bring more trust and innovation to digital assets. Partnering with Stellar makes transactions safer and easier, driving global crypto adoption.”
• Denelle Dixon, CEO of Stellar Development Foundation, shared, “Our partnership with Mastercard will make transferring funds faster and safer, boosting blockchain adoption and enabling new possibilities.”

The Bigger Picture

This collaboration is a significant win for all parties involved:

• Mastercard strengthens the legitimacy of digital asset transactions.
• Stellar showcases how blockchain can be used for real-world applications.
• Coins.ph secures a key partnership as it expands its services globally.

What’s Next

Although the initial focus is on remittances, the companies are planning to expand their services further within the Stellar ecosystem, potentially unlocking more use cases for blockchain in the future.

Conclusion
This partnership between Coins.ph, Stellar, and Mastercard represents a big step forward in making cryptocurrency transactions faster, safer, and easier. With the potential to benefit millions of Filipinos, it paves the way for broader blockchain adoption and improved financial services worldwide.

Source: https://bitpinas.com/business/coins-ph-mastercard-stellar/

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