Ethereum

Solana

USDC

Baanx

MetaMask is introducing a new blockchain-based debit card that enables users to make purchases directly from their self-custodial crypto wallets. 
Initially available in a pilot phase for a select few thousand users in the European Union and the UK, the MetaMask Card is expected to see a broader release later this year. Users will be able to spend their USDC, USDT, and wETH assets stored on the Linea layer-2 network, a solution built on Ethereum. 
MetaMask, known as a popular self-custodial wallet for the Ethereum network, is partnering with Mastercard and crypto payment provider Baanx to bring this innovative payment solution to life. The pilot phase will feature digital-only cards available to users in the EU and UK, with plans for a full rollout across these regions later in the year. Additionally, MetaMask aims to launch similar pilots in other regions in the coming months. 
This development reflects the growing convergence between traditional financial services and blockchain technology. As global financial institutions tokenize traditional assets like bonds and credit, and asset managers begin to offer exchange-traded funds for Bitcoin and Ethereum, payment giants like Mastercard are exploring ways to integrate blockchain technology into existing financial systems. 
Mastercard has been collaborating with Baanx on web3 payment solutions, bridging the gap between traditional payments and crypto platforms such as Ledger and the decentralized exchange 1inch. Meanwhile, Visa has partnered with Circle’s USDC stablecoin and the Solana network to accelerate cross-border payments. 
“We saw a significant opportunity to make purchases for self-custody wallet users easier, more secure, and interoperable,” said Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard. 
Simon Jones, Chief Commercial Officer at Baanx, highlighted the potential impact of this offering on financial inclusion, stating, “Anyone with access to a mobile phone should be able to access basic financial services by default. This could have a profound impact in regions with large populations of unbanked or underbanked individuals.” 
The MetaMask Card functions like a standard debit card, but with the added advantage of allowing users to make purchases directly using their digital assets held in MetaMask’s self-custodial wallet. This ensures that users retain full control over their funds until the moment of payment. 
Lorenzo Santos, Senior Product Manager at ConsenSys, emphasized the flexibility this card offers, saying, “This gives people more freedom to spend their assets—in this case, crypto.”

MetaMask Begins Launch of Blockchain-Based Debit Card in Partnership With Mastercard and Baanx

CoinstelegramEng

Other articles published on Aug 14, 2024

Goldman Sachs now manages $419M in Bitcoin ETFs

CPI Data Drops Below 3% For First Time Since March 2021!

Is Ripple Headed for $36? Critical Insights Every Trader Must Know!

Bitcoin Continues to Offer Opportunities and Risks in the Crypto World

Is It Too Late To Buy BCCOIN? BlackCardCoin Price Skyrockets 74%, And This Could Be The Next Cryp...

Nasdaq and BlackRock Propose Options for Spot Ethereum ETF: SEC Decision Expected by April 2025

Join our free newsletter for daily crypto updates!