Mastercard, a global payment technology company, has recently announced a significant development in the realm of cryptocurrency. In collaboration with Polygon Labs and Mercuryo, Mastercard is expanding its Crypto Credential service to self-custody wallets. This move is aimed at enhancing security and convenience for users engaging in crypto transactions.

The Mastercard Crypto Credential service will now be available to users of self-custody wallets, allowing them to benefit from verified, username-style aliases. This feature is designed to streamline the user experience and provide an added layer of security when conducting transactions involving digital assets.

Polygon has been selected as the initial blockchain network for this expansion of the Mastercard Crypto Credential service. Polygon, known for its scalability and low transaction fees, is a popular choice for blockchain projects looking to enhance efficiency and accessibility. By leveraging the Polygon network, Mastercard aims to provide users with a seamless and cost-effective solution for managing their crypto credentials.

Mercuryo, a leading cryptocurrency payment gateway, has been chosen as the first issuer to onboard verified users and create alias-based credentials within the Mastercard Crypto Credential service. By partnering with Mercuryo, Mastercard can ensure that users have access to a trusted platform for managing their digital assets securely.

The introduction of verified, username-style aliases within the Mastercard Crypto Credential service is a significant step towards mainstream adoption of cryptocurrencies. By offering users a familiar and easy-to-use interface for managing their crypto credentials, Mastercard aims to bridge the gap between traditional financial services and the world of digital assets.

This expansion of the Mastercard Crypto Credential service to self-custody wallets marks a milestone in the evolution of cryptocurrency payments. By providing users with a secure and user-friendly solution for managing their digital assets, Mastercard is positioning itself as a key player in the growing crypto economy.

Overall, the collaboration between Mastercard, Polygon Labs, and Mercuryo represents a significant advancement in the integration of traditional financial services with blockchain technology. As the demand for crypto payments continues to rise, initiatives like the Mastercard Crypto Credential service play a crucial role in making digital assets more accessible and secure for users around the world.

Source: https://news.bitcoin.com/mastercard-selects-polygon-to-power-verified-username-transfers-for-self%E2%80%91custody-wallets/