Mastercard Adds Self-Managed Crypto Wallets

Mastercard is expanding its Crypto Credential to self-custody wallets in collaboration with Polygon Labs and Mercuryo.

This expansion introduces “verified, username-style aliases that replace long wallet addresses,” the companies said in a news release Tuesday (Nov. 18).

Mastercard picked Polygon as the first blockchain network to power this launch, pointing to its speed, reliability, and payments-ready architecture. Mercuryo will act as the initial issuer, onboarding verified users and allowing for the creation of Mastercard Crypto Credential aliases, the news release added.

“By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is building trust in digital token transfers,” said Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets.

“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.”

According to the release, Mastercard Crypto Credential standardizes how blockchain addresses are verified by allowing for human-readable aliases that correspond to a verified individual. Mercuryo will conduct identity verification and issue the aliases, which users can then connect to their self-custody wallets.

In addition, users can request a Mastercard Crypto Credential soulbound token on Polygon, “signaling on-chain that their wallet belongs to a verified user and supports credential-based transaction processing” and leading to a “simplified, interoperable experience.”

Instead of copying and checking long hexadecimal strings, users can transact using a single, verified alias recognized across the Mastercard Crypto Credential network,” the release said. “This approach improves trust, reduces user error, and brings the familiarity of traditional payment flows into the self-custody landscape.”

PYMNTS spoke with Mastercard’s Dhamodharan earlier this year about the role of stablecoin payments in providing the “emerging digital expectation layer” consumers now prefer.

“All of this comes down to what consumers and businesses want. It’s not just about cost, but also trust, simplicity and convenience,” he said. “Customers want an end-to-end experience.

“For consumer adoption, most people won’t even know they’re using stablecoins. In the U.S., there’s already a robust electronic infrastructure of wallets, bank accounts, etc. Crypto-native users may interact directly with the blockchain, but most won’t. The real utility for them comes through simple experiences, like using a card linked to a stablecoin account,” he added.