MetaMask Unveils Blockchain Debit Card in Partnership with Mastercard

• MetaMask partners with Mastercard and Baanx to launch a blockchain-based debit card, initially piloting in the EU and UK.
• The MetaMask Card allows users to spend crypto directly from their self-custodial wallet, maintaining control until purchase.
• The card supports USDC, USDT, and wETH on the Linea blockchain, with Mastercard's security features and transaction reversibility.

MetaMask, the well-known crypto wallet for the Ethereum network, is launching its blockchain-based debit card in partnership with Mastercard and crypto payments firm Baanx. 

The new MetaMask Card will first be offered to a few thousand users in the European Union and the UK as part of a limited pilot program, according to the company. A wider release is planned for later this year, with a full rollout across the EU and UK, followed by more pilot launches in other regions over the coming months.

While self-custody wallets give people peace of mind by letting them control their own assets, spending those funds outside the crypto world has always been a challenge. To use your crypto, you'd typically have to move it to an exchange—defeating the purpose of avoiding such platforms—convert it to traditional currency, and then transfer it to your bank account. 

This complicated process limits both consumers and merchants from easily accessing the purchasing power of their stored crypto.

Mastercard has been collaborating for the past year with a coalition of industry leaders, including MetaMask, across various regions, issuers, card program managers, and technology enablers, to merge the best aspects of mainstream and decentralized finance for users worldwide, according to a statement from the company.

“The result is a new Web3 card program that allows users of self-custody wallets to make card purchases everywhere Mastercard is accepted — while retaining custody of the funds until the moment of purchase and with greater security thanks to Mastercard’s dispute management process and chargeback protections.”

The card functions like a regular debit card but lets users make purchases directly from the digital assets in their MetaMask self-custodial wallet. This means users keep control of their funds until they make a payment.

They can spend USDC, USDT, and wETH cryptocurrencies stored on the Linea blockchain, an Ethereum layer-2 network developed by Consensys, the same company behind MetaMask.

Additionally, the standards created by Mastercard in collaboration with its partners also include know-your-customer and anti-money-laundering protocols, the ability to view transaction history and to reverse transactions. 

Edited by Harshajit Sarmah