Popular self-custodial wallet MetaMask, in collaboration with Mastercard and Baanx, has launched a pilot of its new crypto debit card – the MetaMask Card – which allows users to spend cryptocurrency directly from their MetaMask wallet at any location where Mastercard is accepted.
The MetaMask Card eliminates the need for users to transfer cryptocurrencies to a bank account before making a purchase. It allows direct transactions from the MetaMask wallet and converts the cryptocurrency into fiat currency at the point of sale. This allows users to maintain control of their assets until purchase, providing both security and convenience.
Initially, the MetaMask card will be available to a select group of users in the European Union and the United Kingdom, with plans to expand the card’s availability to additional regions as part of the phased rollout.
Source: MetaMaskConnecting digital assets with everyday financial use
Eligible participants can verify their status through the MetaMask portfolio, where a new “Card” tab will guide them through setting up their account on the Crypto Life platform powered by Baanx.
“We are delighted to partner with MetaMask, web3’s leading wallet, to drive the financial revolution and enable users to be their own bank,” said Simon Jones, Chief Commercial Officer at Baanx.
The card integrates with popular mobile payment systems such as Apple Pay and Google Pay, allowing for easy use in both online and physical stores. The MetaMask Card initially supports cryptocurrencies such as $USDC, $USDT and $WETH and uses the Linea network to enable fast and secure transactions.
“The MetaMask Card pilot gives people more freedom to spend their cryptocurrencies,” said Lorenzo Santos, Senior Product Manager at Consensys. “MetaMask Card represents an important step in removing the friction that has traditionally existed between blockchain and real-world commerce. This is a paradigm shift that offers the best of both worlds.”
