MetaMask and Mastercard Launch New Crypto Debit Card for Global Payments
MetaMask, the widely used Ethereum-focused wallet, has announced a new collaboration with Mastercard to introduce a debit card that integrates directly with users' self-custody wallets.
This initiative will enable users to make crypto payments wherever Mastercard is accepted globally.
The new product, named the MetaMask Card, will initially be available through a pilot program in the European Union and the United Kingdom, targeting a select group of users. A broader rollout across these regions is expected by the end of the year, with plans to extend the pilot to other areas in subsequent quarters.
Raj Dhamodharan, Mastercard’s EVP of blockchain and digital assets, highlighted the potential of this partnership to simplify and secure transactions for users of self-custody wallets.
READ MORE: Goldman Sachs Reveals Major Investment in Bitcoin ETFs
The MetaMask Card, issued by the UK-based fintech company Baanx, will require users to hold cryptocurrency on Linea, an Ethereum layer-2 network, within their MetaMask wallet. Supported assets include stablecoins USDT and USDC, as well as wrapped Ethereum (WETH). When a transaction is made, the crypto will be converted to fiat currency in real-time, allowing users to spend at various locations that accept Mastercard.
Lorenzo Santos, senior product manager at ConsenSys, the firm behind MetaMask, emphasized that the MetaMask Card bridges the gap between blockchain technology and traditional payment systems, representing a significant advancement in payment technology.
Users interested in the MetaMask Card can check their eligibility by accessing the “Card” tab on the MetaMask website or by joining a waitlist for future updates.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
