- The new MetaMask debit card allows users to spend their cryptocurrency directly without converting it into fiat money
- MetaMask, Mastercard and Baanx collaborate to make everyday crypto transactions easier
- The card will initially be available in the EU and UK and will support popular cryptocurrencies such as USDC, USDT and ETH.
Big news from the crypto world: MetaMask, in partnership with Mastercard and Baanx, has just launched a new card that makes everyday cryptocurrency spending easier. Forget the hassle of converting to fiat money – now you can use your digital assets anywhere Mastercard is accepted.
Seamless crypto spending: closing the Web2-Web3 gap.
What is exciting about the announcement by these three companies is that the card will allow users to easily spend their cryptocurrencies on everyday purchases. According to the press release, ConsenSys, the developer of the wallet, mentioned that it would eliminate the complicated process of converting cryptocurrencies into fiat money – a major obstacle to mass adoption.
The MetaMask Crypto Card allows users to spend their crypto holdings directly from their self-governed MetaMask wallet anywhere Mastercard is accepted.
Raj Dhamodharan, EVP of Blockchain and Digital Assets at Mastercard, underlined this commitment by saying: “We saw an opportunity to make the lives of self-custodial wallet users easier. By working with MetaMask and Baanx, we are bringing cryptocurrencies closer to everyday consumption.”
This simplified approach aims to remove one of the biggest barriers to cryptocurrency adoption. To use the card, users set spending limits in their MetaMask wallet, and the cryptocurrency is instantly converted to fiat money upon payment, maintaining control of the funds until the transaction is completed. Users must also store their cryptocurrency on the Linea network.
The partnership leverages the combined expertise of Mastercard’s extensive payments network, MetaMask’s secure wallet platform and Baanx’s experience in card programs and technology. In addition, Linea Network provides the underlying infrastructure for speed and efficiency.
Introducing the MetaMask debit card: initial launch and future expansion
The MetaMask card is officially launching in a limited manner in the EU and UK, initially available to a select group of users, with plans to expand availability and add more features in the coming months.
The card supports popular cryptocurrencies such as USDC, USDT, and ETH. MetaMask users can verify their eligibility for the card by accessing the MetaMask portfolio via a web browser and navigating to the Card tab.
Diploma
In short, the MetaMask card could really make a splash for crypto users. With it launching in Europe and the UK first and lots of new features on the way, now is a great time to try it out and see if you can be among the first to try it out!
