Popular self-hosted wallet MetaMask has partnered with Mastercard and Baanx to launch a pilot of a new crypto debit card, the MetaMask Card, which allows users to spend cryptocurrencies directly from their MetaMask wallet anywhere Mastercard is accepted.
The MetaMask Card eliminates the need for users to transfer cryptocurrency funds to a bank account before making a purchase and allows transactions to be conducted directly from the MetaMask wallet, converting cryptocurrencies into fiat currency at the point of sale. This ensures users retain control of their assets before purchasing, providing security and convenience.
Initially, the MetaMask card will be available to select users in the EU and UK, with plans to expand the card’s availability to other regions as part of a phased rollout.
Source: MetaMaskConnecting digital assets with daily financial uses
Eligible participants can check their status through the MetaMask Portfolio, where a new “Card” tab will guide them to set up an account on the Crypto Life platform powered by Baanx.
Simon Jones, chief commercial officer of Baanx, said: “We are very excited to partner with MetaMask, the leading web3 wallet, to drive the financial revolution by allowing users to become their own bank.”
The card integrates with popular mobile payment systems such as Apple Pay and Google Pay and can be easily used online and in stores. The MetaMask card initially supports cryptocurrencies such as $USDC, $USDT and $WETH, leveraging the Linea network to facilitate fast and secure transactions.
“The MetaMask Card pilot allows people to use cryptocurrencies more freely,” said Lorenzo Santos, senior product manager at Consensys. “The MetaMask Card represents an important step in eliminating the friction that has traditionally existed between blockchain and real-world commerce. It is a A paradigm shift can have the best of both worlds.
