Crypto newcomers often struggle with wallet addresses because they are long, unreadable, and easy to misplace. That confusion can make even simple transactions feel risky. To ease the process, Mastercard is enhancing its Crypto Credential program so users of self-managed wallets can rely on short, verified aliases instead of traditional wallet strings. The aim is to make transfers more straightforward while reducing the likelihood of sending funds to the wrong address.
In Brief
- •Mastercard taps Polygon to simplify crypto transfers by replacing long wallet addresses with short verified aliases.
- •Polygon was selected for its fast, low-fee, payment-focused design that supports seamless transactions.
- •Users can obtain a soulbound token on Polygon to confirm ownership and strengthen trust in transactions.
Mastercard Simplifies Wallet Addresses
Mastercard says its Crypto Credential framework creates a clear way to confirm blockchain addresses by using simple identifiers connected to verified individuals. This lets users move away from long, difficult address strings and rely instead on names that link back to confirmed wallet owners. The setup works in a similar way to common payment apps, where sending money only requires a recognizable username rather than full account details.
To implement this system, Polygon will serve as the first blockchain for the rollout. The network was chosen for its focus on payments, fast settlement, and very low fees. User verification and alias assignment are managed by Mercuryo, and once a user completes the process, the alias is linked to their self-custody wallet, making transactions simpler and more reliable. Users can also obtain a soulbound token on Polygon, confirming that the wallet belongs to a verified individual.
Enhancing Usability and Trust in Crypto Transfers
Raj Dhamodharan, Mastercard’s Executive Vice President for Blockchain and Digital Assets, explained that the program is intended to strengthen trust in crypto transfers by making wallet details easier to navigate and by offering clear identity verification. He emphasized that "bringing Mercuryo and Polygon’s capabilities together with our infrastructure makes digital assets more accessible and reinforces Mastercard’s commitment to delivering secure, intuitive, and scalable blockchain experiences for consumers worldwide."
Building on that focus on user experience, Marc Boiron, CEO of Polygon Labs, emphasized that the partnership also makes self-custody wallets easier to use for everyday users. This improvement helps reduce friction in wallet management and encourages more people to take control of their assets directly on-chain.
Mastercard’s Broader Crypto Activity
Mastercard has been steadily expanding its involvement in the digital asset space. In June, Mastercard partnered with Chainlink to provide cardholders with a reliable way to purchase crypto directly on-chain. The setup lets users convert fiat currency into digital assets through a protected process, giving buyers added confidence in their transactions.
Earlier, in May, Mastercard formed another partnership with MoonPay. That initiative opened the door for stablecoin payments at more than 150 million merchants worldwide. Under this arrangement, users of crypto wallets can access virtual Mastercards that transact using stablecoins, giving them a way to spend digital currencies through familiar commercial channels.