MetaMask launches a Mastercard-powered crypto debit card, allowing users to spend self-custodied digital assets at over 150 million merchants worldwide.
MetaMask launches Mastercard-backed crypto debit card and made the digital currency more accessible for regular purchases in 49 U.S. states, including New York. Users can now spend their self-custodied digital assets at over 150 million Mastercard-accepting shops worldwide.
The card has features including Price Protection, Zero Liability Protection, and Mastercard ID Theft Protection. The card operates on the Mastercard global payments network and is powered by Baanx. It is available to cardholders via Apple Pay, Google Pay, or a physical contactless card anywhere Mastercard is accepted. With its superior metal design and contactless convenience, the Mastercard-powered MetaMask Card is accepted at more than 150 million retailers globally.
According to Gal Eldar, Product Lead at MetaMask, the objective is to incorporate cryptocurrency payments into everyday life without introducing further complexity. He also added that the collaboration with Mastercard furthers attempts to enable cryptocurrency spending to operate similarly to traditional card transactions.
Assets are authorized and converted at the point of sale using a simplified process that is similar to the use of a conventional debit card. According to the company, this procedure eliminates the requirement to transfer money to a centralized exchange before making purchases.
The MetaMask card is designed to be a self-custodial device, unlike many cryptocurrency debit cards that need custodial accounts. Additionally, it employs Mastercard Digital First technology, which gives authorized users almost immediate access to make in-app and web payments before they receive a physical card. Up to the point of transaction, users maintain control over the digital assets stored in their wallet.
