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The first blockchain-based payment card, MetaMask Card, is now being launched, supporting payments in USDC, USDT, and WETH!

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The first blockchain-based payment card, MetaMask Card, is now being launched, supporting payments in USDC, USDT, and WETH!

In an announcement yesterday, wallet provider MetaMask revealed that the company has launched the MetaMask Card in collaboration with card issuer Mastercard and payment processor Baanx. The MetaMask Card supports payments in USDC, USDT, and WETH and will initially undergo testing in the European Union and the United Kingdom.

Coindesk: MetaMask Partners with Mastercard to Create the First "Fully On-Chain" Cryptocurrency Payment Card

MetaMask Card launches in Europe

The statement indicates that the MetaMask Card, launched by a collaboration of three parties, has implemented its latest testing program, allowing select users to experience the card in advance:

This is the world's first Mastercard payment card that allows direct spending from the MetaMask wallet. Eligible users can now use their cryptocurrencies for everyday shopping at any location that accepts Mastercard payments.

Reportedly, unlike credit cards, the MetaMask Card is a charge card that deducts payments directly from the user's linked MetaMask wallet using cryptocurrencies.

In summary, the key highlights of the MetaMask Card include:

  • Support for cryptocurrency payments including USDC, USDT, and WETH
  • Integration with payment methods such as Apple Pay and Google Pay to enhance user experience
  • Collaboration with Mastercard's global partners and MetaMask's own L2 network, Linea, to ensure secure and efficient payment services

Currently, the testing program is only open to selected users in the EU and the UK, with plans to expand to more regions once stabilized.

Users can check their MetaMask Portfolio sidebar for the "Card" option, click to access the Baanx-owned Crypto Life platform for registration; ineligible users can also pre-register and await notification.

MetaMask introduces smart transaction feature to reduce user MEV losses

Consensys: Bridging the gap between Web3 and the real world

Consensys product manager Lorenzo Santos stated that the MetaMask Card testing program will provide people with more freedom when using cryptocurrencies for spending:

MetaMask Card eliminates the friction between blockchain and the real world, symbolizing a significant shift that benefits both sides.

Meanwhile, Baanx Chief Business Officer Simon Jones also expressed excitement for the full launch of the card:

As the leading wallet in the Web3 space, we are thrilled to collaborate with MetaMask to drive the financial revolution by empowering users to be their own banks.

Lastly, Mastercard officials also stated, "To bridge the gap between mainstream finance and decentralized finance, we have enabled users of self-hosted wallets to retain control of their funds when making cryptocurrency payments."