Crypto wallet developer MetaMask is about to launch its blockchain debit card, developed in partnership with Mastercard. In fact, the company announced the MetaMask card as “the world’s first Mastercard debit card that enables instant payments directly from your self-managed wallet.”
This move is a big moment for blockchain integration. In fact, it is intended to bridge the gap between cryptocurrency ownership and everyday spending. In addition, a pilot version of the card is to be launched for a limited group of users in the EU and the UK, according to a press release.
Also read: MetaMask launches Smart Transaction feature this week
The crypto market has made tremendous progress this year, with two crypto-based ETFs being approved and launched in the US. Both Bitcoin and Ethereum have set the tone with increasing institutional investment and interest from traditional financial institutions.
This has now been extended to cryptocurrency custody. In fact, MetaMask is launching its new blockchain-based debit card in partnership with Mastercard. The global payments company is among the most popular card options. It is one of the most widely used payment systems, with more than 1.1 billion cards in circulation. These cards are now getting crypto integration.
Also read: Mastercard launches Crypto Credential: Users can send cryptocurrencies via username
“The MetaMask Card pilot gives people more freedom to spend their cryptocurrencies,” said Lorenzo Santos, senior product manager at Consensys. In addition, he said, the card is “an important step towards eliminating the friction that traditionally exists between blockchain and real-world commerce.”
Furthermore, Santos described the card as “a paradigm shift that offers the best of both worlds.” This move is certainly a huge step forward for the entire market. In particular, it eliminates the need for traditional banking. It allows crypto holders to spend their digital assets directly.
