MetaMask, the leading Web3 wallet empowering users with self-custody of digital assets, has unveiled a groundbreaking debit card in partnership with Mastercard and Baanx. This innovative MetaMask Card allows users across the EU and UK to seamlessly convert cryptocurrency into spendable funds for everyday purchases.
Key Features of the MetaMask Card
- Instant Crypto-to-Fiat Conversion: Spend directly from your self-custody wallet without pre-loading funds.
- Self-Custody Security: Maintain control of your crypto until the moment of transaction.
- Mastercard Acceptance: Use anywhere Mastercard is accepted, with spending limits customizable via the MetaMask app.
- Powered by Linea: Transactions leverage Linea, an Ethereum-based Layer 2 network, for speed and cost efficiency.
👉 Explore the Future of Crypto Payments
Pilot Rollout and Expansion Plans
The limited pilot phase launched on August 14, 2024, for select users in the EU and UK. Eligible participants can check access through the MetaMask Portfolio dashboard. Broader availability and additional features (e.g., rewards programs) are slated for late 2024.
Why This Collaboration Matters
- Mastercard’s Infrastructure: Harnesses global payment networks for mainstream crypto adoption.
- MetaMask’s Security: Prioritizes user-controlled assets with robust encryption.
- Baanx’s Fintech Expertise: Bridges decentralized and traditional finance.
"This partnership merges Mastercard’s reach with MetaMask’s self-sovereign technology, revolutionizing how people interact with money."
— Lorenzo Santos, Consensys
Financial Inclusion for the Unbanked
Simon Jones, Baanx’s CCO, highlights the card’s potential to serve underbanked populations:
"Mobile-native financial tools like the MetaMask Card can replace traditional bank accounts, offering autonomy over assets while enabling efficient spending."
👉 Mastercard’s Vision for Web3 Payments
Mastercard’s Crypto Card History
- 2023: Partnered with Binance for a Brazil-launched prepaid card (discontinued due to regulatory issues).
- 2024: Shifts focus to self-custody solutions with MetaMask, aligning with decentralized finance (DeFi) principles.
FAQs About the MetaMask Card
Q1: How do I check if I’m eligible for the pilot?
A: Visit the MetaMask Portfolio website and follow the onboarding prompts.
Q2: Which cryptocurrencies are supported?
A: Initially, major ERC-20 tokens (e.g., ETH, USDC); more to be added.
Q3: Are there transaction fees?
A: Fees are competitive with traditional debit cards, with Linea reducing gas costs.
Q4: Will the card launch in the US?
A: Expansion plans include North America, pending regulatory approvals.
Q5: How does self-custody work with a debit card?
A: Funds remain in your wallet until spent—no third-party custody required.
Keywords: MetaMask Card, Mastercard crypto debit card, self-custody wallet, Linea network, Web3 payments, EU crypto card, financial inclusion, Baanx partnership
Note: Always verify terms and compliance updates directly with MetaMask or Mastercard.
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