Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets
Mastercard has selected Polygon to enable verified usernames for self-custody wallets, allowing users to transfer cryptocurrencies using human-readable aliases instead of lengthy blockchain addresses. This initiative leverages the Mastercard Crypto Credential, which standardizes the verification of blockchain addresses by linking a verified individual's identity to a human-readable alias. Identity verification and alias issuance will be handled by Mercuryo, tying these aliases to users' on-chain identities.
Users will have the ability to connect these verified aliases to their self-custody wallets and request a Polygon token that indicates the wallet's support for verified transfers. This approach aims to minimize transfer errors and simplify crypto tools for mainstream users, emulating the ease of username-based transfers common in consumer applications.
The Polygon network is expected to support these transfers with high throughput and low fees, facilitating real-world payments at scale. Raj Dhamodharan, Mastercard's executive vice president, described the system as a way to build trust, enhance accessibility, and deliver scalable blockchain experiences for consumers.
