Mastercard announced an expansion of its Crypto Credential platform to self-custody wallets, selecting Polygon as the inaugural blockchain network for this rollout.
In partnership with crypto payment API provider Mercuryo, the system introduces verified, human-readable usernames that replace cumbersome 42-character hexadecimal wallet addresses. This aims to minimize transfer errors—such as typos that can lead to permanent fund loss—and make crypto interactions as intuitive as sending money via apps like Venmo or PayPal.
Mercuryo handles KYC onboarding. Once approved, users receive a unique alias linked to their on-chain identity. Users can mint a non-transferable token on Polygon, signaling that their wallet supports verified transfers and complies with regulations like the Travel Rule for anti-money laundering.
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Transfers are fast near-instant finality, low-cost, and scalable, leveraging Polygon’s architecture for high throughput. This is designed for global use, reducing friction for peer-to-peer, remittances, and merchant payments.
By streamlining wallet addresses and adding meaningful verification, Mastercard Crypto Credential is building trust in digital token transfers,” said Raj Dhamodharan, EVP of Blockchain & Digital Assets at Mastercard.
This move builds on Mastercard’s 2024-2025 crypto push, including partnerships with Kraken for debit cards and Chainlink for on-chain purchases. Early X discussions highlight its potential for mainstream adoption, with users noting it as a “massive UX upgrade” for self-custody.
Simultaneously, European neobank Revolut—serving over 65 million users across 38 countries—fully integrated Polygon as its primary infrastructure for crypto services. This enables seamless stablecoin transfers using USDC and USDT, in-app payments via a crypto card, POL trading, and staking.
Since initial testing in December 2024, Revolut has processed over $690 million in volume on Polygon, underscoring rapid real-world adoption. Zero-Fee Stablecoin Transfers: Users can send/receive USDC, USDT, and POL internationally in seconds, with no network fees, ideal for remittances and cross-border payments.
Crypto Card Payments: Spend stablecoins at merchants directly through Revolut’s in-app card, bridging Web3 with everyday spending.
POL Trading and Staking: Buy/sell/stake Polygon’s native token POL, the ecosystem’s gas and staking asset within the app, offering yields up to 4% APY. Revolut Ramp facilitates fiat-to-Polygon conversions without external wallets.
Supports Polygon’s recent Rio upgrade for 5,000 TPS transactions per second and hosts $3.6 billion in stablecoins, positioning it as a go-to rail for fintechs. This is Phase 1 of a deeper collaboration, with future expansions into real-world asset (RWA) payments.
These back-to-back integrations signal Polygon’s rising dominance in payments infrastructure, blending TradFi familiarity with blockchain efficiency. Mastercard’s focus on identity verification addresses compliance hurdles, while Revolut’s scale drives volume—potentially onboarding millions to Web3 without them realizing it.
POL has seen a modest 2% uptick to ~$0.14, reflecting broader market caution, but analysts eye $0.16 amid these catalysts. Username aliases for self-custody. Zero-fee stablecoin remittances.
Global, via Mastercard’s network. Together, they underscore a shift: Crypto is evolving from speculative trading to practical payments, with Polygon as the efficient backbone.
By 2025, the company has shifted emphasis toward stablecoins as a bridge for practical, scalable payments—processing nearly $140 billion in crypto transactions since 2020. This aligns with regulatory advancements like the U.S. GENIUS Act, which provides clarity for USD-pegged tokens.
Visa views stablecoins not as rivals but as tools to expand its ecosystem, enabling faster cross-border transfers, payouts, and merchant spending. Key initiatives emphasize interoperability across blockchains, compliance, and real-world use cases like remittances and creator economies.
In April 2025, Visa partnered with Bridge acquired by Stripe to roll out stablecoin-linked Visa cards in six Latin American countries, including Mexico, Argentina, Colombia, Ecuador, Peru, and Chile. Users can load cards with stablecoins for everyday purchases at over 100 million Visa merchants, with automatic conversion to local fiat at the point of sale.
This enables freelancers and gig workers to receive USD payments in stablecoins and spend them seamlessly, reducing conversion fees and delays. Consumer spending via these cards quadrupled in Q3 2025 compared to the prior year.
Targeted at gig workers, influencers, and creators in emerging markets, it addresses the 57% of creators seeking instant payments per Visa’s 2025 Creator Economy Report.
A September 2025 pilot allows banks and remittance firms to pre-fund accounts with stablecoins for quicker international transfers, bypassing traditional currency volatility.
BBVA is in the sandbox phase of Visa’s tokenized asset program, aiming for a stablecoin prototype launch in 2025. Visa updated guidelines for digital currency and NFT transactions, mandating transaction-level indicators, enhanced KYC/AML screening, and transparent checkouts.
This includes the Ramp Provider Program for fiat onramps and exchanges. As noted by Visa’s Crypto Chief Cuy Sheffield at the Singapore FinTech Festival, these efforts translate Visa’s money movement expertise to blockchain, aiding banks’ on-chain entry.