Mastercard partners with Polygon to build a new encryption transfer system.

According to BlockBeats news on November 18, as reported by Coindesk, Mastercard has chosen Polygon to build a new type of crypto transfer system that allows for cryptocurrency transmission using human-readable usernames instead of complex wallet addresses. According to a press release from Mastercard, its “crypto credential” technology standardizes blockchain address verification by creating human-readable aliases for verified users. The crypto payment API company Mercuryo will be responsible for identification and alias distribution, allowing users to bind these aliases to their hosted wallets. This model mimics the operational logic of applications that transfer money using usernames instead of bank account information, with the system assigning a unique name that can be linked to a wallet for users. Users can also apply to generate credential tokens on Polygon, which not only demonstrate that their wallets support verified transfer functions but also assist applications in completing credential-based transaction routing.