Aptos (APT), the acclaimed Solana competitor, has shared an additional insight for its community members on what its core role will be in the partnership it inked with Mastercard a few weeks back.
Aptos-Mastercard payment focus
With the commitment to contribute to the evolution of payments, Aptos said it will be developing a Mastercard Crypto Credential, a new on-chain identity and verification framework that will support the development of apps in payments, ticketing and non-fungible Tokens (NFTs), to mention a few.
Aptos said it will be kicking off the program with Aptos Labs playing a crucial role in "building new identity, security, trust, and verification tools that enable the free flow of funds between individuals across borders."
The protocol said it will start the pilot for remittances for funds sent between the USA, Latin America and Caribbean countries. Aptos as a blockchain protocol is all for utility and innovation, and while the Mastercard teamup will help it showcase its core ingenuity, it will also help set a pace that can notably drive the future of payments.
7/ To kick off the program, @AptosLabs will build new identity, security, trust, and verification tools that enable the free flow of funds between individuals across borders – starting with their pilot for remittances sent between the USA, Latin America, and Caribbean countries!— Aptos (@Aptos_Network) May 17, 2023
The protocol has been recording a number of important collaborations and product launches in the past few months, and while the Mastercard partnership is one of its biggest, it should be noted that Aptos also has a pact with tech giant Google Cloud.
The link-up with Google Cloud will help open up access to capital for innovators building decentralized applications within the Aptos protocol.
"Our partnership means that together we can go farther in providing the Aptos community with capital and resources needed to focus on developing infrastructure," Aptos said, describing the pact it has with Google Cloud.
Biggest Beneficiary: APT
In its drive toward sustainability in innovation, the APT token appears to be the biggest beneficiary when long-term prospects are factored in.
At the time of writing, the digital currency is trading at a price of $8.68, up 2.88% over the past 24 hours. Aptos has been tagged as a major high flier, and these broad partnerships will help drive its utility in the near future.