Summary:
- Collaboration: MetaMask has partnered with Mastercard and Baanx to release a debit card that allows users to spend their cryptocurrency directly from their self-custody wallets.
- Seamless Transactions: The card enables users to make purchases without converting crypto to fiat beforehand, with instant conversion happening at the point of sale.
- Network and Availability: Operating on the Linea network, a layer two solution on Ethereum, the card supports USDC, USDT, and WETH. Initially, it will be available to a limited number of users in the EU and UK.
- Industry Impact: This launch is a major step towards making cryptocurrency a more viable option for everyday transactions, backed by Baanx’s technology and Mastercard’s extensive network.
MetaMask, in partnership with Mastercard and Baanx, has launched a groundbreaking debit card that allows users to spend their cryptocurrency directly from their self-custody wallets. This new offering is seen as a significant advancement in making digital currencies a practical option for daily transactions.
Unlike traditional debit cards, MetaMask’s card lets users maintain control over their digital assets until the moment of transaction. When making a purchase, the card instantly converts the selected cryptocurrency into fiat, enabling seamless use both online and in physical stores. This innovation aims to eliminate the barriers that have historically hindered the mainstream adoption of cryptocurrencies in everyday life.
The MetaMask Card operates on the Linea network, a layer two solution on Ethereum, and supports transactions in USDC, USDT, and WETH. Initially, the card will be available in a limited pilot to a few thousand users in the European Union and the UK.
This initiative is part of a broader trend of integrating traditional payment networks with the crypto space. While Mastercard has been collaborating with Baanx on web3 payments, Visa is also expanding its crypto offerings, having partnered with Circle’s USDC stablecoin and the Solana network to enhance cross-border payment solutions.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
