How is Mastercard Building a Venmo for Crypto?

• Blockchain Council
• April 04, 2025

Mastercard is stepping deeper into crypto. The payments giant is building a system that works like Venmo, but for digital assets. This project aims to make sending and receiving crypto just as easy as using regular money apps. The goal? A smooth connection between banks and Blockchain.

What’s Mastercard’s Goal With Crypto Payments?

Raj Dhamodharan, who leads Mastercard’s work with digital assets, shared the plan. He explained that Mastercard wants to use its big global network to support crypto in a safe way.

The idea is simple: make crypto payments feel like what people already use, such as Venmo or Zelle. Users should be able to move money around without any confusion. The system should be smooth, trusted, and follow all the rules.

What Is the Multi-Token Network?

In 2023, Mastercard introduced the Multi-Token Network, or MTN. This platform is built on Blockchain and helps handle digital transactions across different tokens. MTN supports transfers that follow financial regulations.

It’s more than just tech. It links banks, merchants, and users in one place. Mastercard designed it to help different players move digital assets in ways that feel familiar and safe.

This is the core of Mastercard’s crypto wallet experience—something that brings together crypto tools and everyday spending.

Who Are Mastercard’s Crypto Partners?

Mastercard didn’t build this alone. It teamed up with big names to grow the network.

JPMorgan

JPMorgan and Mastercard are working to improve global money transfers. With Blockchain, they want payments to settle faster and with fewer steps.

Standard Chartered

Standard Chartered joined the project to explore how tokens could change how we store value. They’re testing the idea with deposits and carbon credits.

Ondo Finance

Ondo Finance helps turn things like Treasury funds into digital tokens. With Mastercard, they’re working to make those assets easier to access online.

These partnerships help Mastercard give its users more than just a wallet. They’re offering services that bring crypto into the real world.

What Are Crypto-Focused Card Programs?

To get users more comfortable with digital money, Mastercard rolled out over 100 different crypto card options. These include:

• Credit cards
• Prepaid cards
• Reward cards

Each one connects to digital currencies and lets users spend as if they’re using traditional cash. The goal is to make switching between fiat and crypto smooth and fast.

This setup gives people more power when it comes to how and where they spend.

What Is Mastercard Crypto Credential?

In early 2025, Mastercard released something new: Crypto Credential. It launched first in the UAE and Kazakhstan.

Here’s what it does: it turns long, confusing Blockchain addresses into simple names. So instead of copying and pasting a string of numbers, users just send crypto using short, friendly aliases.

It also checks who’s sending and who’s receiving the assets. That adds a level of safety for everyone involved.

How Is Mastercard Dealing With Crypto Rules?

Government rules have often made it hard for traditional banks to jump into crypto. Mastercard is working within those laws to build trust with both users and partners.

Things have started to shift. Rules are getting clearer. Mastercard now has room to grow its crypto efforts without stepping outside the lines.

By making sure all their tools follow local and international laws, they’re making crypto less risky for average users. If you’re following Mastercard’s new crypto projects, a Certified Cryptocurrency Trader™ (CCT) can help you assess how this shift could affect your own trading strategies.

How Much Has Mastercard Invested in Blockchain?

Mastercard didn’t just start looking at crypto yesterday. Since 2015, they’ve filed more than 250 patents tied to digital currencies and Blockchain.

They’ve also supported dozens of startups through their innovation programs. This shows that Mastercard’s crypto strategy goes far beyond just launching a few products.

They’re betting big on Blockchain becoming a part of daily life.

What Does This Mean for Regular Users?

With these tools in place, Mastercard wants to give people a better way to use crypto. They’re building a system where sending crypto feels as easy as using a Venmo-style payment app.

People won’t need to learn new tech or understand the backend. They’ll just send money and know it’s fast and safe.

Whether someone is paying a friend back or buying something online, the experience should feel normal—even if the money is digital.

Is This the Future of Peer Payments?

Mastercard sees a future where crypto fits right alongside bank cards and mobile apps. Their mix of new tech, trusted partners, and clear design could push crypto into everyday use.

They’re not trying to replace what people know—they’re trying to add to it.

Final Thoughts

Mastercard’s move into digital money isn’t just an experiment. They’re using real tools like the Multi-Token Network, smart partnerships, and Crypto Credential to create a trusted platform for crypto payments.

It’s not about making crypto complicated. It’s about making it useful, simple, and secure. That’s how Mastercard is building what could be called a Venmo for crypto—one that works for everyone.