SNEAK PEEK
MetaMask launches blockchain debit card in EU and UK, partnering with Mastercard and Baanx.
Card supports crypto payments with USDC, USDT, and wETH, using Linea blockchain.
Initiative targets broader adoption, unbanked regions, and financial autonomy for users.
MetaMask, a leading Ethereum wallet provider, is significantly bridging the gap between traditional finance and digital currencies by launching a blockchain-powered debit card. Developed in collaboration with Mastercard and fintech firm Baanx, the MetaMask Card aims to facilitate seamless crypto transactions for users in the European Union and the United Kingdom. This initiative marks a critical development in integrating blockchain technology into everyday financial services.
Introducing MetaMask Card: The world’s first Mastercard debit card that enables instant spending directly from your self-custody wallet. We’ve teamed up with @Mastercard and @BaanxGroup to bridge the gap between crypto and daily life.
With MetaMask Card, every day can be crypto…
— MetaMask (@MetaMask) August 14, 2024
Initially, the MetaMask Card will be available as a digital-only card to a limited group of users within the EU and UK. This pilot phase tests the card’s functionality and gathers user feedback before a broader release. The card allows users to purchase directly with their cryptocurrency holdings, supporting digital assets such as USDC, USDT, and wETH.
By maintaining self-custody, users retain full control of their funds until the moment of payment, ensuring higher security and autonomy in their financial transactions.
Mastercard’s collaboration with Baanx in this project underscores the growing interest among traditional financial institutions in exploring blockchain applications. The MetaMask Card leverages the Linea blockchain, an Ethereum layer-2 network developed by Consensys, to facilitate these transactions.
We’re proud to announce we've partnered with @MetaMask and @Mastercard.
Together, we're piloting the world’s first Mastercard debit card that allows you to spend crypto directly from your MetaMask wallet!
Now available to a limited set of users in the EU and UK.
Seamless,… pic.twitter.com/6qExeD0FGj
— Baanx Group (@BaanxGroup) August 14, 2024
This integration represents a significant milestone in the ongoing efforts to connect conventional payment systems with emerging crypto platforms, highlighting the potential for broader adoption of digital assets in everyday financial activities.
MetaMask’s blockchain debit card is set to expand beyond the initial pilot, with plans to roll out to additional regions over the coming quarters. This move aligns with Mastercard’s broader strategy to innovate within the crypto payments space, as highlighted by Raj Dhamodharan, Mastercard’s Executive Vice President of blockchain and digital assets.
Moreover, to address the needs of unbanked society engaging the card, especially, regions having not enough development of the banking system is also mentioned by Simon Jones, the Chief Commercial Officer of Baanx.
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