Mastercard and Polygon Launch Verified Crypto Username System for Self-Custody
Mastercard is accelerating its Web3 strategy with a major expansion of its Crypto Credential program, extending the service to self-custody wallets and allowing users to send and receive crypto using human-readable aliases instead of long hexadecimal wallet addresses.
The upgrade, announced Tuesday, marks one of Mastercard’s most significant steps toward making crypto transfers more intuitive for mainstream users.
Polygon will be the first blockchain to support the new system, while payments firm Mercuryo will oversee identity verification and issue the username-style aliases.
The companies aim to reduce user error and offer a verification layer similar to traditional financial rails—an important step in Mastercard’s broader push to improve trust and usability in digital asset transfers.
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Building Trust Through Verified Digital Identities
Under the expanded program, users can verify themselves through Mercuryo and then link a simple, human-readable alias to their self-custody wallet. For those seeking a cryptographically anchored identity layer, the system also enables users to request a soulbound token on Polygon. The non-transferable token serves as an onchain proof that the wallet belongs to a verified individual.
Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets, said the alias system is designed to eliminate common consumer pain points.
“By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is building trust in digital token transfers,” he said.
Polygon Labs CEO Marc Boiron agreed, noting how the ecosystem has long struggled with usability issues that hinder adoption. “This partnership marks the moment when self-custody becomes simple,” he said, emphasizing that Polygon’s low-fee environment is built for consumer-friendly workflows.
Mercuryo added that the rollout reflects a growing demand for secure but sovereign crypto experiences—solutions that don’t sacrifice user ownership while still offering the simplicity associated with Web2 financial tools.
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Mastercard’s Crypto Push Accelerates Across 2024 and 2025
The expansion of Crypto Credential continues a rapid buildup in Mastercard’s digital asset strategy.
The company has already launched debit cards with Kraken across European markets, enabling millions of customers to spend crypto through Mastercard’s payment networks.
It also partnered with MetaMask earlier this year to introduce a self-custody payments card—further embedding the company in decentralized wallet infrastructure.
Beyond payment cards and wallet integration, Mastercard is also establishing technical rails that support direct onchain transactions.
In June, the company partnered with Chainlink to allow its three billion cardholders to purchase crypto directly onchain. The system uses Chainlink’s oracle infrastructure to bridge Mastercard’s settlement technology with blockchain networks, enabling verifiable, real-time crypto purchases.
A Step Toward Mainstream, Verified Onchain Payments
The decision to extend Crypto Credential to self-custody wallets signals an important shift in how traditional payment giants view the future of digital transactions.
By replacing long wallet addresses with verified aliases—and anchoring identity through optional soulbound tokens—the company is designing a hybrid model that blends crypto sovereignty with the familiarity of established financial systems.
As the program launches on Polygon and expands to additional chains, Mastercard is betting that simplified identity tools will play a crucial role in bringing everyday users into Web3.
If adopted widely, the alias-based system could help transform self-custody from a technical challenge into a mainstream payment experience—trusted, user-friendly, and interoperable across the digital economy.
