MetaMask has launched a new card that allows users to easily spend their digital currencies.
Cryptowallet provider MetaMask has teamed up with Mastercard and Baanx to launch the Metamask Crypto Solutions Card, a debit card that allows users to make everyday purchases directly using their cryptocurrencies, and its pilot program was announced earlier in the day.
Seamless Cryptocurrency Spending and Bridging the Gap Between Web II and III
The announcement of the three companies sparked great excitement, as this debit card makes it easier for users to spend their cryptocurrencies in their Metamask wallet on daily purchases.
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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
According to the press release, digital solutions company Consensys, the developer of the MetaMask wallet, noted that the card will remove the complexities related to converting digital currencies into fiat currencies, an obstacle that has long hindered the widespread spread and adoption of digital assets.
Thanks to this new card, users will be able to spend their cryptocurrencies directly from the MetaMask self-guardianship wallet in all places that accept Mastercards.
Raj Dhamodharan, Executive Vice President, Blockchain and Digital Assets at Mastercard, noted the partnership: “We saw this as an opportunity to facilitate the lives of users of self-guardianship wallets. By partnering with MetaMask and Baanx, we are enabling the use of cryptocurrencies for everyday spending.” On the other hand, this simplified method aims to remove a major barrier to the adoption of digital currencies in the traditional financial sector.
To use this card, users will set a spending limit within their MetaMask wallets, where cryptocurrencies are converted into cash instantly at the point of sale, ensuring they have control over their funds until the transaction is completed, and users must keep their cryptocurrencies on the Linea network.
The partnership leverages Mastercard, MetaMask’s secure wallet platform and Baanx’s expertise in card software and technology, and Linea also provides the program’s core infrastructure that is fast and efficient.
MetaMask Launch Initial launch and future expansion
The MetaMask digital card will be launched in limited edition in both the European Union (EU) and the United Kingdom (UK).
Because this is a grand new adventure, a select number of users in the EU and UK will be the first to experience seamless crypto spending directly from their MetaMask wallet, wherever Mastercard is accepted.
Keep an eye on your MetaMask Portfolio and look for the ‘Card’ tab over…
MetaMask (@MetaMask) August 14, 2024
Initially, this digital card will be available to a limited number of users with plans to increase its availability and add new features in the coming months, and the card is set to support a number of widely used digital currencies such as USD Coin (USDC), Tether (USDT) and Ethereum (ETH). MetaMask wallet users can check whether they can receive their new digital card by visiting their MetaMask account via a web browser and going to the “Card” tab.
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