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Mastercard, a global payment leader, has partnered with Mercuryo to launch a pioneering euro-denominated debit card.
Announced on September 6, this innovative card lets European Bitcoin holders spend directly from their self-custodial wallets, giving them full control over their funds.
New Debit Card Supports Crypto Spending at 100 Million+ Merchants Across Europe
This card allows users to complete transactions at over 100 million global merchants, eliminating the need for intermediaries or custodial platforms. This strategic move reinforces Mastercard’s commitment to integrating digital assets into everyday financial transactions, bridging the gap between traditional finance and the crypto world.
??BREAKING??
MASTERCARD PARTNERS WITH
MERCURYO TO LAUNCH EURO
CRYPTO DEBIT CARD.THIS ALLOWS USERS TO SPEND
CRYPTO LIKE BITCOIN FROM SELF-
CUSTODIAL WALLETS AT 100+
MILLION MERCHANTS.GIGA BULLISH FOR ADOPTION ?? pic.twitter.com/UuKcyYGvWD
— Ash Crypto (@Ashcryptoreal) September 5, 2024
Self-custody or non-custodial wallets grant users full control over their digital assets. Unlike custodial wallets, which rely on third-party intermediaries, non-custodial wallets put the user in charge of safeguarding private keys.
By linking non-custodial wallets, Mastercard users can spend Bitcoin safely and securely without going through an intermediary like a Bitcoin exchange.
However, the card comes with charges, including a €1.6 issuance fee, a €1 monthly maintenance charge, and a 0.95% transaction fee on purchases, which may increase associated costs for frequent users.
Mastercard’s commitment to cryptocurrency is demonstrated through its strategic partnerships and continuous initiatives to integrate digital assets with traditional finance.
The company made its initial foray into the crypto market in 2021, recognizing the expanding role of digital assets in payments. Since then, it has collaborated with key industry players such as Circle and Coinbase to advance this integration.
In 2024, Mastercard took a major step forward by partnering with the decentralized finance (DeFi) wallet MetaMask to launch a pilot program for a self-custody debit card.
This innovative card made it easy for users to maintain control of their funds until the transaction was completed.
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
Building on this momentum, Mastercard’s partnership with Mercuryo further supports crypto payments, addresses challenges, and offers greater flexibility for cryptocurrency holders.
