Mastercard taps Polygon to turn clunky crypto addresses into simple usernames

Mastercard is expanding its Crypto Credential programme to self-custody wallets, allowing users to nonstop and person cryptocurrencies utilizing verified, username-style aliases alternatively of agelong wallet addresses.

Polygon volition beryllium the archetypal blockchain to enactment the rollout, portion payments steadfast Mercuryo volition grip individuality verification and contented the aliases to users, according to a Tuesday property merchandise shared with Cointelegraph.

“By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is gathering spot successful integer token transfers,” said Raj Dhamodharan, enforcement vice president of blockchain and integer assets astatine Mastercard.

Once verified by Mercuryo, users tin nexus a human-readable alias to their self-custody wallet oregon petition a soulbound token connected Polygon that proves the wallet belongs to a verified individual.

Mastercard chooses Polygon to motorboat username-based crypto transfers. Source: Polygon

Related: Why Mastercard’s $2B determination into crypto could extremity banking hours arsenic we cognize them

Mastercard aims to marque self-custody crypto transfers safer

Mastercard said the determination is aimed astatine reducing errors caused by copying agelong hexadecimal addresses and that the strategy is designed to relation much similar accepted outgo rails.

“This concern marks the infinitesimal erstwhile self-custody becomes simple,” said Marc Boiron, CEO of Polygon Labs.

Mercuryo, the archetypal issuer for the program, said the rollout reflects rising request for unafraid but user-friendly crypto experiences that don’t necessitate giving up wallet sovereignty.

Mastercard has been accelerating its crypto strategy passim 2024 and 2025, launching debit cards with Kraken crossed Europe and partnering with MetaMask connected a self-custody payments card.

Related: Zerohash lands MiCA licence amid $2B Mastercard acquisition rumors

Mastercard taps Chainlink to bring cnchain crypto purchases

In June, Mastercard partnered with Chainlink to alteration its 3 cardinal cardholders to bargain crypto straight onchain, marking 1 of the credit-card giant’s largest steps into Web3.

The rollout relies connected respective Web3 partners, including Shift4 Payments, Swapper Finance, XSwap and ZeroHash, with ZeroHash supplying onchain liquidity to person fiat into crypto. Chainlink said the mentation disposable done Swapper Finance is afloat non-custodial and uses relationship abstraction to marque the process acquainted for mundane users.

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