Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a crypto payment API firm, users will undergo identity verification and receive unique aliases linked to their on-chain identities. This initiative is designed to minimize transfer errors and simplify the user experience in self-custody wallets, similar to how money is transferred through apps using usernames instead of bank details. Mastercard is committed to improving the accessibility and trustworthiness of digital assets while providing a seamless experience for users. The Polygon network will facilitate these transactions at a reduced cost and with high processing speeds, making it suitable for scalable real-world applications.

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