MetaMask has teamed up with Mastercard and Baanx to launch a new crypto debit card called the MetaMask Card.
In an announcement on August 14, MetaMask revealed that this integration allows users to leverage their crypto assets for everyday transactions. Similar to a conventional bank debit card, MetaMask Card users can make payments directly from their MetaMask wallet.
The MetaMask Card lets users maintain control over their funds until they execute the transaction. Then, the card automatically converts their crypto assets into fiat currency for use in online or physical store purchases.
“This partnership represents a major innovation, and we are eager to work with MetaMask and Baanx to revolutionize the self-custody wallet experience, creating a more seamless connection between the web2 and web3 spaces,” said Raj Dhamodharan, Executive Vice President, Blockchain & Digital Assets at Mastercard.
MetaMask Card Initially Available to Users in the EU and UK
The trial program for the MetaMask Card is currently available to a limited number of users in the European Union and the United Kingdom. The MetaMask Card offers users the opportunity to sign up and integrate it with Apple Pay or Google Pay for online payments within apps.
For now, eligible cryptocurrencies during the trial phase include USDC, USDT, and wETH. Users must store their crypto on the Linea network and use MetaMask to set spending limits for the card.
“The MetaMask Card trial gives people more freedom to spend their crypto,” said Lorenzo Santos, Senior Product Manager at Consensys, the company behind MetaMask.
Looking ahead, MetaMask plans to add additional features and functionalities to the MetaMask Card. MetaMask aims to make the card available in more countries by the end of 2024, starting with a full rollout in the EU and UK, followed by trials in other regions in the third or fourth quarter.
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