Popular self-custody wallet x.com/MetaMask” target=”_blank” rel=”noopener”>MetaMask has launched a pilot of its new crypto debit card, the MetaMask Card, in collaboration with x.com/Mastercard” target=”_blank” rel=”noopener”>MasterCard and x.com/BaanxGroup” target=”_blank” rel=”noopener”>Banks allowing users to spend cryptocurrency directly from their MetaMask wallets at any location where Mastercard is accepted.
The MetaMask Card eliminates the need for users to transfer crypto funds to a bank account before making purchases and allows direct transactions from the MetaMask Wallet, converting cryptocurrency into fiat currency at the point of sale. This ensures that users maintain control over their assets until the point of purchase, providing 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 its gradual rollout.
A bridge between digital assets and everyday financial use
Eligible participants can check their status via 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 leading web3 wallet MetaMask to power the financial revolution by enabling 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 physical and online stores. Initially supporting cryptocurrencies such as $USDC, $USDT, and $WETH, the MetaMask card leverages the Linea network to facilitate fast and secure transactions.
“The MetaMask Card pilot project gives people more freedom to spend their cryptocurrencies,” said Lorenzo Santos, Senior Product Manager at Consensys. “The MetaMask Card represents a major step towards removing the friction that has traditionally existed between blockchain and real-world commerce. It’s a paradigm shift that offers the best of both worlds.”
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