Popular self-custodial wallet MetaMask has launched a pilot of its new crypto debit card—the MetaMask Card—in collaboration with Mastercard and Baanx allowing users to spend cryptocurrency directly from their MetaMask wallets at any location where Mastercard is accepted.
The MetaMask Card eliminates the need for users to transfer crypto funds to a bank account before making purchases and enables direct transactions from the MetaMask wallet, converting the cryptocurrency into fiat currency at the point of sale. This ensures that users retain control over their assets until the moment of purchase, providing both security and convenience.
Initially, the MetaMask Card will be available to a select group of users in the European Union and the United Kingdom with plans to expand the availability of the card to additional regions as part of its phased rollout.
Source: MetaMaskBridging Digital Assets with Everyday Financial Use
Eligible participants can check their status through the MetaMask Portfolio, where a new “Card” tab will guide them to set up their account on the Crypto Life platform, powered by Baanx.
“We are so delighted to partner with web3’s leading wallet, MetaMask, to power the financial revolution by enabling users to be their own bank,” said Simon Jones, Chief Commercial Officer at Baanx.
The card integrates with popular mobile payment systems like Apple Pay and Google Pay, allowing for easy use in both online and physical stores. Initially supporting cryptocurrencies such as $USDC, $USDT, and $WETH, the MetaMask Card leverages the Linea network to facilitate fast and secure transactions.
“MetaMask Card pilot gives people more freedom to spend their crypto,” says Lorenzo Santos, Senior Product Manager at Consensys. “MetaMask Card represents a major step to removing the friction that has traditionally existed between the blockchain and real-world commerce. This is a paradigm shift that offers the best of both worlds.”
