Mastercard Partners with Polygon to Launch Verified Usernames for Non-Custodial Wallets

Payments giant Mastercard has partnered with Polygon Labs and the crypto payment service provider Mercuryo to introduce a new method for individuals to send and receive crypto from non-custodial wallets.

Instead of relying on long, complex wallet addresses, users can now send crypto using simple, verified usernames. This is part of Mastercard’s expanding Crypto Credential program, which aims to make crypto easier and safer to use.

Mastercard Simplifies Wallet Addresses

Mastercard aims to tackle one of the biggest challenges with crypto – dealing with complicated wallet addresses, long strings of letters and numbers that are difficult to memorize. The payment platform’s new system addresses this by allowing users to create a clear, readable username that is linked to their wallet.

Before obtaining their username, users complete an identity verification process through Mercuryo. After that, they can receive a verified username and share it, making transfers much simpler.

Users can also mint a soulbound token (SBT) on the Polygon blockchain. This token proves that the wallet belongs to a verified person, adding a layer of trust without revealing private information. By replacing complicated wallet addresses with familiar usernames, crypto transfers feel more like sending money through regular payment apps.

Why is it Important?

Polygon considers its network ideal for this system because it offers low fees, smooth transactions, and a platform for building payment-friendly tools. Mercuryo handles the identity verification side and ensures usernames belong to real users. Mastercard states that this upgrade will enhance confidence in crypto payments by reducing the likelihood of sending funds to the wrong address.

Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard, emphasized the goal, saying:

“Bringing Mercuryo and Polygon’s specialized expertise together with our infrastructure is making digital assets more accessible and reinforces Mastercard’s commitment to driving secure, intuitive, and scalable blockchain experiences for millions of users globally.”

With this, users can retain full control of their crypto while enjoying the convenience of sending funds to a simple name rather than a complicated code, making self-custody wallets friendlier for everyone.

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