Despite the latest efforts to foster the adoption of privacy-enhancing Attribute-Based Credential (p-ABC) systems in electronic services, those systems are not yet broadly adopted. The main reasons behind this are performance efficiency issues, lack of interoperability with standards, and the centralized architectural scheme that relies on a unique Identity Provider (IdP) for credential issuance. To cope with these limitations, this paper describes the first implementation of the Pointcheval–Sanders Multi-Signatures (PS-MS) crypto scheme proposed by Camenisch et al. and its integration in a distributed and privacy-preserving identity management system proposed in OLYMPUS H2020 European research project. Our efficient implementation provides remarkable privacy-preservation features for identity management in online transactions leveraging p-ABC systems, including unforgeability, minimal disclosure of personal data through zero-knowledge proofs, unlinkability in online transactions and fully distributed credential issuance across different IdPs, thereby removing the IdP as a unique point of failure. The performance of the implementation has been exhaustively analyzed and evaluated with different curves, signers and number of attributes, and compared against Identity Mixer, the best known p-ABC system, outperforming significantly the credential issuance and zero-knowledge proving and verification processes (2–4 times less execution time).