Mastercard launches Polygon (POL)-based 'Crypto Credential'

Mastercard announced on the 18th (local time) that it is launching a new on-chain authentication and transfer system called 'Crypto Credential' based on Polygon (POL).

'Mastercard Crypto Credential' is a system that allows sending and receiving digital assets using only a username without a blockchain wallet address, replacing the existing long hexadecimal (hexadecimal) wallet addresses with simple, human-readable usernames.

After a single onboarding and verification process, users can immediately execute transfers between multiple wallets based on the same username. The structure fundamentally reduces the risk of transfer accidents caused by incorrect address copy-and-paste.

The verification process is handled by payment infrastructure company Mercuryo. When a user initiates a transfer, Mercuryo automatically verifies that the asset, blockchain, and wallet are all valid and checks in real time whether the transfer is possible. This function is much safer and more intuitive than the previous method where users had to directly verify wallet address matches or chain compatibility.

With this launch, blockchain-based transfers have taken on a form more similar to existing digital payment experiences. Username-based transfers follow the familiar user experience (UX) from traditional finance while maintaining the transparency, immutability, and finality provided by the on-chain.

Polygon Labs said, "This integration is an early stage that shows what global on-chain movement of funds might look like," and added, "On-chain payments will become established in a simple, safe, and accessible way."