MetaMask is piloting a new payment debit card that allows users to spend crypto directly from their MetaMask wallets.
The card, currently in a limited pilot phase in the EU and UK, is available to a select group of users. The MetaMask card supports transactions using USDC (USDC), Tether (USDT), and WETH, all held on the Linea network, an Ethereum layer-2 solution developed by Consensys.
The MetaMask Card is designed to function like a traditional debit card, offering users the ability to spend without pre-loading funds onto a third-party platform. Users maintain control over their assets until the moment of purchase, at which point the crypto is instantly converted to fiat for the transaction.
MetaMask is pursuing this initiative in hopes of reducing the friction that has traditionally existed between the blockchain and real-world commerce.
The pilot phase will be expanded later this year, with plans to roll out the card to additional regions.
Mastercard crypto card
The card leverages Mastercard’s extensive global merchant network, providing users with the ability to make purchases anywhere Mastercard is accepted, both online and in-store. This launch represents an advancement in integrating blockchain technology with traditional financial systems, making it easier for users to utilize their crypto assets in everyday scenarios.
MetaMask, known for its popular self-custodial wallet, is positioning this card as a bridge between the Web3 and Web2 ecosystems, offering a practical solution for crypto holders who wish to spend their assets more freely.
Source: https://crypto.news/metamask-announces-crypto-debit-card-partnership-with-mastercard-and-baanx/