Mastercard has expanded its Crypto Credential program to self-custody wallets, allowing users to send and receive cryptocurrencies using verified username-style aliases instead of complex wallet addresses. Polygon will provide blockchain support while payments firm Mercuryo handles identity verification and issues aliases to users.
The program aims to reduce errors caused by copying long hexadecimal addresses and make crypto transfers function more like traditional payment systems. Raj Dhamodharan, executive vice president of blockchain and digital assets at Mastercard, stated the system builds trust in digital token transfers by streamlining wallet addresses and adding meaningful verification.
Users verified by Mercuryo can link human-readable aliases to their self-custody wallets or request a soulbound token on Polygon proving the wallet belongs to a verified individual. Marc Boiron, CEO of Polygon Labs, characterized the partnership as the moment when self-custody becomes simple.
Mercuryo, serving as the first issuer for the program, said the rollout reflects rising demand for secure but user-friendly crypto experiences that preserve wallet sovereignty. The system is designed to make institutional and retail crypto transfers safer while maintaining control over private keys.
Mastercard's Accelerated Cryptocurrency Strategy
Mastercard has accelerated its cryptocurrency strategy throughout 2024 and 2025. The company launched debit cards with Kraken across Europe and partnered with MetaMask on a self-custody payments card, expanding access to crypto services for traditional finance users.
In June, Mastercard partnered with Chainlink to enable its three billion cardholders to buy crypto directly on-chain. The rollout relies on Web3 partners including Shift4 Payments, Swapper Finance, XSwap and ZeroHash, with ZeroHash supplying on-chain liquidity to convert fiat into Bitcoin, Ethereum, and other digital assets.
The version available through Swapper Finance is fully non-custodial and uses account abstraction to create a familiar process for everyday users. The collaboration marks one of Mastercard's largest steps into Web3 infrastructure and decentralized finance integration.
Bridging Traditional Payments and Blockchain
The Crypto Credential expansion reflects broader institutional interest in bridging traditional payment rails with blockchain technology while addressing user experience challenges that have historically limited mainstream crypto adoption.