MetaMask is stepping into the crypto payments arena with the launch of its own self-custody crypto card, giving users a new way to spend their digital assets directly.
The card, built in collaboration with Mastercard, CompoSecure, and Baanx, leverages smart contract technology to process real-world transactions in under five seconds.
Powered by the Linea network, an Ethereum Layer-2 scaling solution, the new offering aims to provide an alternative to centralized platforms, which have come under renewed scrutiny following recent exchange hacks — including Bybit’s $1.4 billion security breach earlier this year.
With this move, MetaMask is entering a crowded field already populated by big names like Binance, Coinbase, Bybit, and Crypto.com, all offering their own versions of crypto debit cards, often with “crypto-back” incentives to attract users.
The decision to diversify comes at a crucial time for MetaMask. As activity across the Ethereum ecosystem cools, the wallet provider has seen a significant dip in revenue. Data from Dune Analytics shows MetaMask generated only $289,312 in fees during the week of April 14 — a sharp decline from the $1.3 million collected during the same period last year.
In an increasingly competitive landscape, MetaMask’s new card reflects both a defensive play against declining wallet activity and an offensive push to capture more real-world crypto spending.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/metamask-unveils-new-crypto-card-backed-by-mastercard/