According to CoinMeta, Mastercard has launched a pilot project with Borderless to test the application of the Crypto Credential framework in cross-border stablecoin payments. This pilot aims to enhance certainty for all parties involved in transactions regarding approval, compliance, and risk management processes by unifying standards and verification signals, thereby reducing friction in cross-border payments. Mastercard provides governance and verification layer support in the project but does not directly handle or settle funds.