Global payments infrastructure provider Mercuryo has launched a new biometric authentication solution called Passkey, designed to enhance security and streamline fiat-to-crypto transactions in the Web3 ecosystem. The feature replaces traditional one-time passcodes with fingerprint or face ID verification methods, following a growing trend of major organizations adopting passkey technology for enhanced security.
The Passkey feature has been integrated across Mercuryo’s network of more than 200 partners, including major non-custodial wallets such as Trust Wallet. The solution works with iPhone, Android, and Windows devices, allowing users across different platforms to authenticate their identity using biometrics, building on the cross-platform FIDO authentication standards supported by major tech companies.
The security architecture of Passkey stores encrypted login credentials directly on users’ personal devices, eliminating the need for passwords or SMS/email-based one-time passcodes that are vulnerable to phishing and malware attacks. The approach addresses one of the primary security challenges in Web3 user access, similar to implementations by organizations like Mastercard and various government entities.
“We are delighted to have integrated Passkey, a feature that provides an optimal and intuitive log-in process while also greatly enhancing the protection of users’ data,” said Mercuryo CEO Petr Kozyakov.
The implementation of Passkey represents part of Mercuryo’s broader initiative to establish itself as a fundamental infrastructure provider for secure digital payments in the Web3 space. The feature’s cross-platform compatibility ensures consistent functionality across various devices and operating systems, addressing the growing demand for secure authentication solutions in the rapidly expanding digital asset sector, where the biometric authentication market is projected to reach $187.18 billion by 2031.
Sources: Crypto News, Finbold, U.Today, Bitcoinist, CoinTrust
