Mastercard Chooses Polygon to Launch Crypto Transfers via Verified Usernames

• Mastercard is rolling out the Crypto Credential system, enabling users to send cryptocurrency to verified usernames instead of wallet addresses.
• Polygon will provide fast transaction confirmation, while Mercuryo will handle identity verification and the issuance of aliases.
• The solution reduces the risk of errors and automatically blocks incompatible cross-chain transfers.

Mastercard has launched a new development phase of Crypto Credential — a system that allows users to send digital assets to verified usernames rather than long wallet addresses. To support the service, the company selected the Polygon blockchain for its high throughput and low fees.

According to Mastercard’s press release, the solution standardizes the verification mechanism for on-chain addresses and adds an additional security layer for self-custodial wallets. Users can now create a single alias and link multiple blockchain addresses to it.

How the System Works

Mercuryo will perform KYC checks and issue verified aliases to users. These aliases can be linked to multiple wallets and then used instead of long address strings.

The technology also includes a special token on Polygon that confirms that a wallet supports transfers via Crypto Credential. This helps applications automatically route transactions to the correct network and block attempts to send assets to incompatible chains.

Why Users Need This

Long crypto addresses often cause mistakes, especially for beginners — a single incorrect character can lead to a loss of funds. The new system makes the process similar to traditional money transfers using a username.

Mastercard notes that Crypto Credential saves time and reduces error risk during copy-paste of addresses. Each transaction between users with verified credentials undergoes two checks:

1. verification of the recipient’s identity;

2. verification of network compatibility.
   If there is a mismatch, the system issues a warning.

How to Connect to the Service

According to the release, users must:

1. complete KYC through Mercuryo;
2. create a Crypto Credential Username;
3. link their on-chain addresses;
4. use the username for transfers between verified participants;
5. optionally mint a soulbound token confirming wallet compatibility.

Soulbound tokens are non-transferable and act as a digital certificate confirming that a wallet supports verified transfers.

Polygon will serve as the primary network for transaction processing. Mastercard claims the blockchain can handle transaction volumes comparable to real payment systems, making it suitable for mainstream adoption.

Mastercard is also considering acquiring Zerohash for $1.5–2 billion to strengthen its position in the stablecoin market. Integrating Zerohash would give the company direct control over fiat-to-crypto exchange flows. According to forecasts from Keyrock and Bitso, the stablecoin payment market could grow to $1 trillion by 2030.

See also: "Global Cloudflare outage: crypto platforms also affected"

#Mastercard #Polygon

Share: