Mastercard has partnered with bitcoin and cryptocurrency payments provider Mercury to launch a euro-denominated debit card that allows users to spend bitcoin and cryptocurrencies directly from non-custodial wallets. crypto-spending-card”>According to Cointelegraph.
<blockquote class="twitter-tweet”>
BREAKING NEWS: Mastercard launches non-custodial euro credit card twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin and crypto debit card.
They have over 100 MILLION merchants image.twitter.com/xpASRDrhVx
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1831654594612527365?ref_src=twsrc%5Etfw”>September 5, 2024
The card allows European bitcoin holders to spend from their hosted wallets at any of Mastercard’s more than 100 million merchants worldwide without the need to store funds with an intermediary.
Mastercard is a payments giant serving nearly one billion customers in over 210 countries. This latest integration reflects the company’s growing efforts to connect bitcoin to its growing traditional payments infrastructure.
“We offer consumers who want to spend their digital assets an easy, reliable and secure way to do so, anywhere Mastercard is accepted.” crypto-spending-card”>said Christian RauSenior Vice President of Mastercard's cryptocurrency unit.
The card allows spending bitcoins and other cryptocurrencies by simply connecting a non-custodial wallet. Users avoid selling bitcoins and cryptocurrencies on an exchange before spending, maintaining full ownership. However, the Mastercard card does have fees, including a €1.6 issuance fee, a €1 monthly maintenance fee, and a 0.95% transaction fee.
However, by supporting non-custodial wallets, Mastercard is addressing a major issue and giving users the flexibility to directly control their bitcoins and cryptocurrencies. The move responds to a growing audience that prefers wallets hosted on their own servers rather than centralized exchanges.
<script async src="https://platform.twitter.com/widgets.js” charset=”utf-8″>