BingX Integration Pushes Crypto Credential Pilot into New Phase

BingX has officially enabled Mastercard’s Crypto Credential service. This signals a major expansion in blockchain identity protocols.

BingX, a leading cryptocurrency exchange, has officially integrated Mastercard's Crypto Credential service, marking a significant expansion in blockchain identity protocols. The service, which specializes in enhancing sender and receiver verification across exchanges, is now live with BingX, facilitating seamless transactions for users.

This initiative, a joint effort by Mastercard and CipherTrace, aims to simplify and secure cryptocurrency transactions by enabling rapid verification of credentials and efficient exchange of metadata. The service, compatible with EVM-compatible chains and Render Network's AVAx integration, is designed to strengthen compliance with global regulatory standards and provide users with enhanced privacy and a more robust infrastructure against fraud.

"We are thrilled to welcome BingX to the Mastercard Crypto Credential pilot program," said Jeni Mundy, chief digital officer at Mastercard. "This integration is a testament to our commitment to driving innovation in the blockchain space and enabling seamless and secure experiences for consumers."

BingX's entry into the program brings the total number of platforms to 10, with the service now spanning major markets in Latin America, Europe, and Asia. The program focuses on real-time credential exchange before blockchain execution, ensuring that only verified users can engage in transactions on the blockchain. This unique approach solves a persistent problem in cryptocurrency—the high incidence of fraud.

Mastercard has confirmed that BingX's credential verification is now live, enabling users to easily send and receive cryptocurrencies such as Circle's USDC and EURC. The service also includes integrations with Render Network, Avalanche, Paxful, and other platforms. However, BingX's large user base, efficient technology, and rapid integration speed give this milestone fresh global weight as it signals growing comfort among institutions with blockchain rails.

Mastercard's Crypto Credential, built on the EVM-compatible CipherTrace Traveler architecture, is specifically designed for optimal travel rule compliance in a blockchain-native format. The service supports the automated exchange of metadata using zero-knowledge proofs to efficiently verify credentials without compromising personal data, aligning with ISO 20022 cross-border messaging standards for interoperability between banks, fintechs, and crypto platforms.

The credential, which remains effective even when users switch platforms, is designed to be wallet-bound, not account-bound, and provides users with persistent aliases for easy recognition. It also offers a high level of privacy and security, with all data encrypted end-to-end.

Mastercard is currently expanding the program to include APAC and MENA in Q3 2025, with 15 partners also in the pipeline. The use of alias-based transactions, combined with credential attestation, sets a new bar for financial-grade blockchain communication.

This program is a testament to Mastercard's commitment to driving innovation in the blockchain space and enabling seamless and secure experiences for consumers. It marks a significant step in the development of a more interoperable and inclusive digital economy.

BingX is a leading cryptocurrency exchange that provides a wide range of products and services to users in over 100 countries around the world. The exchange is known for its user-friendly interface, high-quality security measures, and responsive customer support.

Mastercard is a global technology company that connects consumers, businesses, and institutions in over 215 countries and territories. The company's mission is to advance the digital economy. Notably, Mastercard is a founding member of the President's Task Force on Financial Technology and Innovation.

News data source: kdj.com

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