Mastercard is launching its Crypto Credential program on self-custody wallets, a new system designed to replace long, complex wallet addresses with simple, verified usernames. The initiative aims to make cryptocurrency transfers more intuitive and less prone to error for users.

The rollout will be supported by Polygon as the first blockchain network for on-chain verification. The identity verification process will be managed by payments firm Mercuryo, which will issue the human-readable aliases to users. Once verified, a user can link the new alias to their wallet, making it easier to send and receive digital assets.

A Push for Safer, User-Friendly Transactions

The primary goal of the Crypto Credential system is to reduce the risk of sending funds to the wrong address, a common mistake when copying and pasting the long strings of characters that define typical crypto wallets. By creating a more familiar, username-based experience, Mastercard hopes to build greater trust and security in digital token transfers.

Partners in the project see it as a key step toward mainstream adoption. According to Polygon Labs, the collaboration helps make the experience of managing your own crypto assets simpler and more accessible. Users can also opt to receive a soulbound token on the Polygon network, which serves as on-chain proof that their wallet belongs to a verified individual.

Mastercard Expands Its Web3 Strategy

This program is part of Mastercard’s broader push into the blockchain space. The company has been actively forming partnerships across the industry, including launching crypto-enabled debit cards with Kraken in Europe and collaborating with MetaMask on a self-custody payment card.

In a separate but related move, Mastercard partnered with Chainlink in June to allow its cardholders to purchase crypto directly on-chain. That initiative involves several Web3 partners, including ZeroHash for providing liquidity to convert fiat currency into crypto. By using technologies like account abstraction, the system offers a non-custodial solution that streamlines the buying process for everyday users.