Key Highlights
- Mastercard partners with Mercuryo and Polygon to bring Crypto Credential to self-custody wallets using alias-based transfers.
- Mercuryo will verify users and issue aliases, while Polygon provides the blockchain infrastructure.
- Users can link wallets, request a Soul Bound Token, and receive crypto through simple aliases instead of long addresses.
Mastercard is expanding its Crypto Credential system by adding support for self-custody wallets, working together with payments firm Mercuryo and blockchain company Polygon Labs to make it happen.
The move is meant to make crypto transfers easier for everyday users by allowing them to rely on short, simple aliases instead of long alphanumeric wallet addresses.
A new phase in Mastercard’s blockchain push
The Crypto Credential framework, introduced as a way to verify users and reduce mistakes during blockchain transactions, has mostly been available through traditional platforms and custodial services. Extending it to self-custody wallets marks a shift toward giving users more control while still keeping verification in place.
Polygon Labs will serve as the first native blockchain network to support the system. Polygon’s technology will run the blockchain part of the system, while Mercuryo will take care of signing up users and verifying their identities.
How the system functions
Under the setup shared by the companies, Mercuryo will carry out Know Your Customer (KYC) checks before giving each user a unique alias. After verification, users can link their self-custody wallets to this alias so they can receive digital assets without sharing the usual long public address.
Users will also have the option to request a Soul Bound Token on the Polygon blockchain. The token is non-transferable and tied to a single wallet. Its purpose is to show that the wallet belongs to a verified user and can support compliance checks, including those required under the Travel Rule.
The rule obligates certain crypto transfers to include basic identification details for both the sender and recipient.
Once the alias and wallet connection are in place, users will be able to receive crypto using the alias alone, with the ability to send funds through the system expected to follow later.
Part of Mastercard’s broader Web3 efforts
Raj Dhamodharan, Executive Vice President for Blockchain & Digital Assets at Mastercard, said, “By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is building trust in digital token transfers.”
Mercuryo Co-Founder and CEO Petr Kozyakov stated, “We are proud to be Mastercard’s first partner to launch Mastercard Crypto Credential across their non-custodial wallet partner network.”
Polygon Labs CEO Marc Boiron said, “This partnership marks the moment when self-custody becomes simple.”
The companies said the expansion fits within Mastercard’s larger set of Web3 initiatives covering identity tools, digital payments, NFTs, and ticketing systems. The aim is to create standards that can work across a variety of blockchain applications while maintaining verification and compliance where needed.
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