Leading crypto-fiat infra provider Mercuryo has enhanced its payment solution with a little help from Passkey. The integration of Passkey adds an additional security layer while also simplifying authentication, allowing users to enjoy faster payments without the need to input a One Time Passcode (OTP).
Passkey has become the gold standard for authentication, combining robust security with user-friendly design that abstracts rather than adding complexity. Its integration into Mercuryo will enable users to acquire crypto quicker without taking shortcuts when it comes to security.
Mercuryo Goes Biometric
2FA solutions are commonly used within web3 to help users log in and verify their identity while mitigating the risk of unauthorized account access. Ordinarily, this incurs an additional step in the form of authenticating with a 2FA device such as a USB key. But Passkey works differently, supporting biometric authentication using fingerprint or face scan.
Because Mercuryo primarily works B2B, its introduction of Passkey will be rolled out to the 200+ partners that have already added its fiat-crypto payment gateway including wallets, DEXs, and centralized exchanges. But the benefits of this integration will be felt by end users, who can bolster their security while skipping the need for an OTP that’s normally delivered by text or email.
One web3 application that will be among the first to roll out Passkey support is Trust Wallet. According to its BD lead Tatiana Kurach, “The addition of Passkey to the Mercuryo platform will further enhance the user experience for those buying and selling digital tokens in Trust Wallet. We are confident that there will be a ready uptake of this biometric security layer among our user base.”
Balancing Security With Usability
There’s a lot of ways to add an additional security layer to web3 services, but Passkey’s approach has earned converts across the cryptosphere. Businesses and users alike are enamored with its ability to protect against malware and phishing attacks by overcoming the vulnerabilities associated with email and text-based authentication.
Developed by FIDO Alliance, Passkey creates a credential that’s registered once on the user’s personal device such as their smartphone. This device then proves that the user possesses the corresponding credential, broadcasting this information to a server via the user’s screen lock. Because it’s available on iPhone, Android or Windows, Passkey provides a mobile-friendly solution that’s particularly prized among crypto users, who are susceptible to attacks from hackers seeking to impersonate them or compromise their account.
In the AI era, this threat has been exacerbated by the development of artificial intelligence models that can uncannily impersonate people, allowing them to bypass basic security measures. While AI still has some way to go before it achieves artificial general intelligence (AGI), it’s already proven adept at mimicking web users logging in to web2 and web3 services.
Mercuryo’s integration of Passkey effectively fixes this, protecting against common digital attack vectors and adding a vital defense layer against sophisticated threats including AI. It’s proof that web3 security doesn’t have to come at the expense of usability. Sometimes, you can enjoy the best of both worlds.
