Mastercard Selects Polygon to Power Verified Username Transfers for Self-Custody Wallets
Mastercard, Polygon Labs, and Mercuryo have announced an extension of Mastercard's Crypto Credential to support self-custody wallets, enabling users to replace long hexadecimal addresses with username-style aliases.
Mercuryo will facilitate user verification and issue these aliases, which can be linked to wallets across the Polygon network. Users will also have the option to request a Crypto Credential soulbound token on Polygon to prove on-chain wallet ownership.
Mastercard selected Polygon as the initial blockchain to implement this initiative due to its speed, reliability, and alignment with payments infrastructure needs. Polygon’s Proof-of-Stake chain offers low transaction costs, high throughput, and fast transaction confirmations.
Recent upgrades to Rio and Heimdall v2 on Polygon have enhanced finality guarantees, reduced the risk of blockchain reorganizations, and improved throughput. Polygon already manages a significant portion of U.S. stablecoin transfers and supports neobanks and fintech firms with digital asset rails.
Polygon Labs CEO Marc Boiron emphasized that this partnership showcases blockchain networks' ability to meet mainstream financial service requirements, noting that the ultimate success will be achieved when blockchain technology becomes invisible to end users.
The extension of Crypto Credential and username-based transfers aims to advance self-custody wallet use beyond niche audiences, promoting broader consumer adoption through improved verification processes and enhanced user experience.
