Mastercard is expanding its crypto credential program to self-custody wallets, allowing users to send and receive cryptocurrencies using verified, username-like aliases instead of lengthy wallet addresses.
According to a press release shared with Cointelegraph on Tuesday, Polygon will be the first blockchain to support the program, while payment company Mercuryo will handle verification and issue aliases to users.
"By simplifying wallet addresses and adding meaningful verification, Mastercard's crypto credentials are building trust for digital token transfers," said Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard.
Once verified by Mercuryo, users can link a readable alias to their self-custody wallet or request a soulbound token on Polygon to prove that the wallet belongs to a verified individual.
Mastercard stated that this move aims to reduce errors caused by copying lengthy hexadecimal addresses and make the system operate more like traditional payment networks.
"This collaboration marks a significant step towards making self-custody simple and user-friendly," said Marc Boiron, CEO of Polygon Labs.
As one of the first issuers in the program, Mercuryo noted that this launch reflects the growing market demand for a secure yet user-friendly crypto experience without sacrificing wallet sovereignty.
During 2024 and 2025, Mastercard will continue to accelerate its crypto strategy, launching debit cards in Europe with Kraken and collaborating with MetaMask to develop self-custody payment cards.
In June of this year, Mastercard partnered with Chainlink, enabling its 3 billion cardholders to purchase cryptocurrencies directly on-chain, marking an important step for the credit card giant into the Web3 space.
This launch relies on several Web3 partners, including Shift4 Payments, Swapper Finance, XSwap, and ZeroHash, with ZeroHash providing on-chain liquidity for fiat-to-crypto exchanges. Chainlink stated that the version offered through Swapper Finance is fully non-custodial and utilizes account abstraction technology, making it easy for regular users to operate.
Related: The U.S. Securities and Exchange Commission (SEC) did not specifically mention cryptocurrencies in its 2026 review focus.
Original article: “Mastercard Teams Up with Polygon to Convert Lengthy Crypto Addresses into Simple Usernames”
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