Mastercard Brings Verified Username Transfers to Self-Custody Wallets with Polygon Labs and Mercuryo
Mastercard Brings Verified Username Transfers to Self-Custody Wallets with Polygon Labs and Mercuryo
Mastercard is expanding its Crypto Credential framework to self-custody wallets through new partnerships with Polygon Labs and Mercuryo. The update introduces verified, username-style aliases that replace long wallet addresses. Polygon powers the initial blockchain deployment, while Mercuryo handles onboarding and identity verification. Together, they bring verified, human-readable identities directly into self-custody environments.
Key Highlights of the Partnership and Launch
Introduction of Verified Username-Style Aliases:
The system converts lengthy blockchain addresses into a single verified alias associated with an authenticated individual. This reduces address-related errors and aligns self-custody transactions with more familiar payment experiences.
Integration of a Verification Layer into Self-Custody:
The framework embeds identity verification within non-custodial wallet flows. Users retain full control of their keys while transacting with verification assurances typically associated with custodial platforms.
Mercuryo as the Initial Issuer and Verification Provider:
Mercuryo performs identity checks, issues Crypto Credential aliases, and supports linking these aliases to users’ self-custody wallets. Its role establishes the credential issuance and verification foundation for the broader network.
Optional Soulbound Token for Onchain Verification:
Users may request a non-transferable credential token on Polygon that signals onchain that the wallet belongs to a verified user. This enables credential-based transaction processing across participating applications.
Interoperable Transfers Across the Credential Network:
A single verified alias can be used to send and receive digital assets across the Mastercard Crypto Credential ecosystem. The approach standardizes verification across multiple platforms, supporting cross-platform compatibility.
Polygon Selected as the First Network for Deployment:
Polygon’s Proof-of-Stake chain provides the underlying infrastructure, offering fast settlement, minimal fees, and high throughput.
Support for a Growing Digital Payments Ecosystem:
Polygon already processes a notable portion of U.S. stablecoin activity and hosts a broad mix of FinTech and payments applications. Its architecture aligns with the performance requirements of large-scale digital asset transfers.
Focus on Error Reduction and Consumer Familiarity:
By allowing transactions through recognizable aliases instead of hexadecimal addresses, the initiative aims to reduce user mistakes and make digital asset transfers more accessible to non-technical participants.
The expansion of Crypto Credential to self-custody wallets highlights how identity and transaction layers are beginning to converge. It shows payment networks and blockchain infrastructures working together to support emerging digital payment models. These partnerships signal a shift toward integrating identity, payments, and blockchain systems, while verification frameworks and simplified user experiences strengthen the case for self-custody as a practical option for both mainstream users and enterprises.
