- Mastercard expands its Crypto Credential program to include self-custody wallets with username-style aliases.
- Polygon blockchain is the first to support this feature, with Mercuryo handling identity verification and alias issuance.
- The program aims to reduce errors from long wallet addresses and increase trust in crypto transfers.
- Users can link human-readable aliases or obtain soulbound tokens on Polygon to verify wallet ownership.
- Mastercard is also partnering with ChainLink and other firms to enable direct onchain crypto purchases for billions of cardholders.
Mastercard is enhancing its Crypto Credential program by integrating support for self-custody wallets, enabling users to send and receive cryptocurrencies using verified aliases instead of lengthy wallet addresses. This initiative, announced recently, aims to improve the ease and safety of crypto transfers by simplifying wallet identification.
The rollout will begin on the Polygon blockchain. Mercuryo, a payments company, will oversee identity verification and the issuance of username-style aliases to users. According to Raj Dhamodharan, executive vice president of blockchain and digital assets at Mastercard, the program seeks to build trust in digital token transfers by making wallet addresses more accessible and verifiable.
Once verified through Mercuryo, users can link a human-readable alias to their self-custody wallets or request a soulbound token issued on Polygon. Soulbound tokens are unique digital assets that verify the wallet belongs to a confirmed individual, enhancing security and authenticity.
This effort is designed to reduce errors caused by the manual copying of long hexadecimal wallet addresses, aligning crypto transactions more closely with traditional payment processes. Marc Boiron, CEO of Polygon Labs, described the partnership as a step toward simplifying self-custody in cryptocurrency management.
In addition to this program, Mastercard has accelerated its crypto initiatives in 2024 and 2025, including launching debit cards with Kraken in Europe and collaborating with MetaMask on self-custody payment cards. Further extending its blockchain engagement, Mastercard partnered with Chainlink in June to allow its three billion cardholders to buy crypto directly onchain.
This integration includes collaboration with partners such as Shift4 Payments, Swapper Finance, XSwap, and ZeroHash. ZeroHash provides onchain liquidity to facilitate the conversion from fiat currency into cryptocurrencies. The Chainlink system available via Swapper Finance is fully non-custodial and employs account abstraction to create a user-friendly experience for everyday users.
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