MetaMask, along with Mastercard and Banxx, has disclosed the pilot launch of a crypto debit card.
Via this card initiative, MetaMask intends to enable users to use their self-custodied crypto assets for everyday purchases in fiat currency in any part of the world where Mastercard is accepted.
For now, only a few thousand digital-only cards have been issued for the pilot. They are available to users in EU countries and the UK.
Users ought to hold their crypto on the Linea network and use MetaMask to delegate funds for the card.
Eligible users will have to register for a digital card on the MetaMask Portfolio and set it up as a payment method on their mobile device.
According to the team, the underlying technology will make it possible to spend USDC, USDT, and WETH.
With respect to what to expect going forward, the team underlined,
“In the coming months, more features and functionality will be added to MetaMask Card. The card is expected to become more widely available later this year, starting with a full rollout in the EU and the UK and a pilot launch in additional regions over the coming quarters.”
Mastercard has been quite active in the crypto sector. Earlier this year, it shipped its in-house 'Crypto Credential' P2P pilot program.
Instead of using blockchain addresses, users can now send and receive crypto using their Mastercard Crypto Credential IDs or aliases.
MetaMask, on its part, has also been expanding its product suite. It recently put to sea a pooled staking service to enable users to stake any number of ETH tokens to secure the network and reap validator rewards.
Before the launch, users in possession of only a minimum of 32 ETH could stake on in-house validators operated by Consensys, the developer of MetaMask.
