Mastercard Partners with Polygon to Introduce Verified Human-Readable Wallet Usernames

Mastercard has selected the Polygon network as the first blockchain to power its Crypto Credential initiative, introducing verified, human-readable usernames for self-custody wallets. This collaboration aims to simplify cryptocurrency transfers by replacing long, complex wallet addresses with simple aliases, reducing the risk of errors and making transactions as intuitive as traditional payments.

Payment API provider Mercuryo will act as the initial issuer, conducting identity verification through standard KYC methods and assigning these aliases. A key component is the use of soulbound tokens on the Polygon network, which serve as on-chain signals confirming that a wallet belongs to a verified user and supports credential-based transaction processing, adding a layer of identity assurance without exposing personal details.

Raj Dhamodharan, Executive Vice President of Blockchain & Digital Assets at Mastercard, emphasized, "By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is building trust in digital token transfers." Polygon was chosen for its high transaction speed, reliability, and payments-ready infrastructure, which includes recent upgrades like Rio and Heimdall v2 that strengthen finality and increase capacity.

This partnership reflects Mastercard's broader push to bridge traditional finance with decentralized ecosystems, accelerating mainstream adoption of self-custody and enhancing Web3 accessibility.