MetaMask launches cryptocurrency card together with Mastercard and Baanx

MetaMask’s new cryptocurrency card is undergoing testing in the European market, following a partnership with Mastercard and Baanx for the pilot.

The MetaMask ethereum self-custody wallet is seeking expansion in the market, anticipating the general launch of this new card at the end of the year.

The goal of the platform is to provide cryptocurrency users with more tools for asset holding and trading.

The alliance with the credit card issuer Mastercard and the fintech Baanx was announced through a statement from MetaMask, announcing the new product in a pilot phase to “remove barriers to the everyday use of digital currencies.”

They indicated that it works the same as a traditional debit card, “where the user continues to maintain custody of the cryptocurrencies in their wallet, and these are converted to fiat currency at the time of purchase.”

The beneficiaries in this test are users from the United Kingdom and the European Union (EU), including Spain.

Raj Dhamodharan, executive vice president of Blockchain & Digital Assets at Mastercard, said: “We identified a significant opportunity to make purchases easier, more secure and interoperable for self-custody wallet users.”

Users must register to enjoy the MetaMask card and “set it as a payment method on your mobile device.” They will be able to make daily purchases in the USDC and USDT stablecoins, pegged to the US dollar, as well as WETH using the Linea layer 2 network.

M.Pino

Source: diariobitcoin

(Reference image source: Shubham Dhage in Unsplash)

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