Citing BlockBeats, Mastercard has partnered with Polygon to develop a new cryptocurrency transfer system that allows users to send digital assets using human-readable usernames instead of complex wallet addresses. According to a press release, Mastercard's 'Crypto Credentials' technology standardizes blockchain address verification by creating verified human-readable aliases. Mercuryo, a crypto payment API company, will handle identity verification and alias distribution, which users can bind to self-custody wallets. The system mirrors the logic of traditional apps that use usernames instead of bank account details for transfers. Users can also apply to generate credential tokens on Polygon, which demonstrate wallet support for verified transactions and assist apps in routing credential-based transactions.
Mastercard and Polygon Partner to Build New Crypto Transfer System
BlockbeatsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.