Mastercard is Transforming Financial Identity Through Blockchain Privacy Initiatives

Mastercard (MA) has joined forces with Humanity Protocol, a blockchain-driven identity solution, to introduce a financial verification system that prioritizes privacy through the use of zero-knowledge proofs (ZKPs). Announced on November 5 and initially available in the U.S., this partnership brings together Mastercard’s open finance network and Humanity Protocol’s blockchain-based verification, allowing individuals to confirm their income, asset holdings, or loan qualifications without having to disclose sensitive paperwork such as bank statements or pay slips

. This development is a notable move toward safeguarding digital identities in the financial sector, reflecting the industry’s shift toward decentralized models and adherence to regulatory standards.

The platform functions by integrating Mastercard’s open finance APIs with Humanity Protocol’s identity layer powered by ZKPs. Within Mastercard’s regulated data-sharing system, verified financial details from linked bank accounts are transformed into cryptographic attestations and recorded on the blockchain. Individuals can then use a Human ID—which works across banks, blockchain networks, and DeFi services—to quickly demonstrate their eligibility for loans, credit cards, or investments, all without revealing underlying data. For instance, a person could

without disclosing their precise income, a feature that helps prevent fraud and speeds up the onboarding process.

Jess Turner, Global Head of Open Finance & Developer Experience at , highlighted changing consumer demands: "When consumers control and securely share their data, it becomes a valuable resource in many aspects of daily life. We are leveraging open finance to create experiences that are both more secure and more convenient." but also responds to increasing worries about privacy in a world of growing financial surveillance.

This collaboration is immediately relevant to both conventional and decentralized financial services. Banks benefit from instant, privacy-respecting loan decisions and the ability to move identities across different chains. DeFi platforms gain from reduced risk, as user credentials can be verified while keeping identities anonymous. Humanity Protocol’s H token, which has

to reach $0.16, plays a key role in this system, with Human IDs serving as trusted credentials for tokenized real-world asset (RWA) markets.

This project fits into Mastercard’s larger blockchain ambitions, such as its recent pilot for stablecoin settlements with Ripple and WebBank. Mastercard is increasingly acting as a connector between established finance and Web3, harnessing blockchain’s speed while upholding strict security standards. The partnership also mirrors a wider trend: people now expect openness and ease of access without giving up privacy, a challenge that ZKPs are particularly well-equipped to solve

.