Today, MetaMask, Mastercard and Baanx (Crypto Life) launched the pilot of the MetaMask Card – the world’s first Mastercard payment card that enables direct spending from your MetaMask wallet.
Eligible users can now use their cryptocurrency to make everyday purchases anywhere Mastercard is accepted.
Remove spending hurdles
For far too long, the process of spending cryptocurrencies in the real world has been cumbersome, often requiring multiple hurdles such as sending money to an exchange, transferring it to a bank, and only then being able to spend.
This lengthy user experience has hindered the general acceptance of cryptocurrencies as a practical, real-world currency.
With the MetaMask Card, you no longer need a bank to spend your cryptocurrencies.
In addition, most traditional crypto cards work similarly to prepaid cards, where you have to transfer money to a third party before spending.
Instead, the MetaMask Card works like a debit card. Cardholders can use the cryptocurrency in their MetaMask wallet directly for everyday purchases and retain control of their funds until the moment of payment.
MetaMask Card leverages Mastercard’s global merchant network, combined with the security of MetaMask and the efficiency of line secured by the Ethereum network. This enables a fast, cost-effective and secure shopping experience, whether online or in-store.
According to Lorenzo Santos, Senior Product Manager at Consensys:
“The MetaMask Card pilot gives people more freedom to spend their cryptocurrency,” says Lorenzo Santos, Senior Product Manager at Consensys.
“MetaMask Card represents an important step in eliminating the friction that has traditionally existed between blockchain and real-world commerce. This is a paradigm shift that offers the best of both worlds.”
In this context, Simon Jones, Chief Commercial Officer of Baanx, says:
“We are thrilled to partner with MetaMask, Web3’s leading wallet, to drive the financial revolution and empower users to be their own bank.”
The pilot phase will launch in the EU and UK and will offer a few thousand users the opportunity to sign up for a MetaMask card, which includes integration with Apple Pay or Google Pay for immediate use. Currencies approved at launch include USDC, USDT and WETH on Linea.
This pilot is only available to a limited group of users in the EU and the UK.
MetaMask Card plans to expand its reach, with plans for geographic expansion into additional regions.
