Mastercard Selects Polygon to Enable Encrypted Crypto Transfers Via Readable Usernames and Wallet Verification

COINOTAG News, reporting on November 18 and citing CoinDesk, notes that Mastercard has selected Polygon to develop an encrypted transfer system. The solution enables crypto transfers using human-readable usernames instead of complex wallet addresses, aiming to reduce onboarding friction and accelerate settlement rails. By leveraging Polygon’s scalability and security, the initiative seeks to formalize aliases that map to on-chain wallets and support compliant transfer workflows.

According to Mastercard’s Cryptographic Proof technology, institutional address verification will be standardized via human-readable aliases for verified users, with Mercuryo handling identity verification and alias issuance to bind aliases to self-hosted wallets. The model mirrors username-based payment rails in traditional finance, where a unique name is linked to a wallet for transfers and improved routing. Users may also generate credential tokens on Polygon to demonstrate wallet verification and assist apps in credential-based transaction routing.