Aptos (APT) Soars 8% as Aptos Labs Joins Forces with Mastercard for Crypto Credential Innovation

Aptos (APT) Soars 8% as Aptos Labs Joins Forces with Mastercard for Crypto Credential Innovation


In a significant move, Aptos (APT) has seen a surge in its value by over 7.66% in the last 24 hours. It comes after the announcement of the partnership between Aptos Labs and Mastercard to create Mastercard Crypto Credential. It is an on-chain identity and verification framework that has the potential to be utilized in a number of applications, including payments, remittances, ticketing, and NFTs.

1/ The future of identity is Web3—and Aptos Labs is partnering with @Mastercard to make that future a reality with Mastercard Crypto Credential, an on-chain identity and verification framework with a variety of applications in payments, remittances, ticketing, and NFTs! pic.twitter.com/4vUwylialQ

— Aptos Labs (@AptosLabs) April 28, 2023

According to the data provided by CoinMarketcap, the token is currently trading at $10.75, with its peak value for the day being $10.85. Additionally, the weekly chart also shows a 4% increase in the token’s value.

However, what sets this token apart is the significant rise in its trading volume. Over the last 24 hours, the trading volume has experienced an increase of around 70%. Furthermore, the token’s market cap has also increased by 7.82%, indicating a growing interest in the token.

APT 1D graph coinmarketcap
Source: CoinMarketcap

Interestingly, four months ago, the token was struggling to maintain its value and had reached an all-time low of $3.0870 on Dec 29, 2022. However, with a current value of $10.75, the token has marked an impressive increase of 247.62%, demonstrating its potential in the cryptocurrency market.

Aptos Labs & Mastercard’s Teamsup

Mastercard has announced the launch of its Mastercard Crypto Credential program, designed to establish a set of common standards and infrastructure that will help attest trusted interactions among consumers and businesses using blockchain networks. 

According to the press release, the program aims to instill trust in the blockchain ecosystem, which is a critical step toward realizing its full potential. In recent years, crypto and blockchain have seen significant innovations, but a lack of proper protections has created vulnerabilities in security and compliance, eroding the trust of consumers, businesses, and governments.

The Mastercard Crypto Credential pilot will kick off with remittances sent between the United States and Latin America, and Caribbean countries. Several use cases can be unlocked with the program, as consumer and business verification needs vary widely based on market and compliance requirements. 

With the Mastercard Crypto Credential, those interested in interacting across Web3 environments will meet defined standards for the types of activities they’d like to pursue.

Joining Mastercard on this journey are crypto wallet providers Bit2Me, Lirium, Mercado Bitcoin, and Uphold, along with public blockchain network organizations Aptos Labs, Ava Labs, Polygon Labs, and The Solana Foundation. 

Together, they will collaborate to enhance verification in NFTs, ticketing, enterprise, and other payment solutions. Mastercard aims to bring decades of experience to this space to enhance trust and work with the broader industry and governments to enable further innovation.

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