Mastercard is taking a major step toward simplifying and securing cryptocurrency transactions with the rollout of Mastercard Crypto Credential, a system designed to eliminate the risk of sending digital assets to the wrong wallet address, one of the most common and costly errors in crypto.
At the center of the new framework is a unified, human-readable Username, similar to an email ID, that replaces long hexadecimal wallet addresses. Users can create a single Username linked to multiple wallets across various blockchains, allowing them to send and receive assets without manually copying complex strings of characters.
According to Mastercard, the shift is expected to save users valuable time on every transaction while dramatically reducing copy-paste mistakes that often lead to irreversible loss of funds.
Enhanced Security and Trust Through Verification
Security and trust are key pillars of the initiative. Every user who obtains a Mastercard Crypto Credential must undergo identity verification. This ensures that anyone transacting within the system is interacting with a verified individual, reducing fraud risk in an environment where anonymity often becomes a loophole exploited by scammers.
Automated Compatibility Checks for Seamless Transactions
The technology also includes automatic compatibility checks. Before any transfer is finalized, Mastercard Crypto Credential confirms that both parties’ wallets support the same blockchain and asset type. If there’s an incompatibility, a common issue when switching between chains, the system alerts the users before the transaction is processed, preventing misdirected or lost assets.
Once verified, users can onboard once, link their preferred wallets, and begin transferring crypto instantly using their new Username, without ever dealing with hex strings again.
Partnerships Driving the Rollout
The rollout is supported by crypto payment platform Mercuryo, which will onboard verified users and issue credentials, while Polygon provides the underlying blockchain infrastructure to power the service.
Bridging Traditional Finance and Digital Assets
By combining user-friendly identifiers with verification and automated safety checks, Mastercard aims to bridge traditional financial reliability with the fast-moving world of digital assets, offering a more secure and seamless crypto experience for mainstream users.
Alternative Username-Based Payment Solutions
pay3 (pay3.so) is a crypto payment platform that replaces wallet addresses with usernames. Accept USDT, USDC, ETH, and BNB through one simple link: pay3.so/@yourname