Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent launch of a Debit Card from MetaMask, which will be powered by Mastercard and make use of a users Cryptocurrency.
MetaMask Debit Card
The crypto hot wallet MetaMask have partnered with Mastercard and Baanx to launch the Metamask card crypto solution. This will be a debit card linked to a users MetaMask wallet and will allow users to spend their cryptocurrency on everyday purchases. The pilot program was announced on Wednesday the 14th of August.
The trio made the announcement and it has generated excitement as the card will allow users to spend their cryptocurrency seamlessly on everyday purchases.
The press release from Consensys, the developer behind MetaMask, noted that the card will eliminate the complex process of transferring crypto to fiat currency. This has been seen as a constant hurdle for many and it has also been a key obstacle in the overall widespread adoption of digital assets. The MetaMask Debit Card will all users to spend their crypto holdings in their self-custodial MetaMask wallet anywhere Mastercard is accepted. The Executive Vice President of Blockchain and Digital Assets at Mastercard, Raj Dhamodharan, noted:
“We saw an opportunity to make life easier for self-custodial wallet users. By partnering with MetaMask and Baanx, we’re bringing crypto closer to everyday spending.”
Users will be able to set spending limits on their MetaMask wallet, and their crypto will be instantly converted to fiat at the point of sale. This will ensure control over users funds before the transaction occurs and users must also hold their crypto on the Linea Network.
This collaboration will make the most of Mastercard’s extensive payment network, Metamask’s secure wallet platform, and Baanx’s proficiency in card programs and technology. The Linea network also provides the underlying infrastructure and will provide speed and efficiency. The rollout will begin with a limited userbase, primarily in the European Union and the United Kingdom.
The digital only card will be initially available to a select number of users, with plans in place to expand its availability and introduce additional features in the coming months. Many widely used cryptocurrencies, such as USDC, USDT, and ETH, will be supported.
Users of MetaMask can check their eligibility for the card by visiting MetaMask Portfolio through a web browser and navigating to the “Card” tab.
Have a great day.
Peace. CryptoGod-1.
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