MetaMask, Mastercard and Baanx have launched a pilot for the MetaMask Card. This is the world’s first Mastercard payment card that allows direct spending of cryptocurrencies held in the MetaMask wallet.
MetaMask and cooperation with Mastercard
MetaMask is starting a partnership with Mastercard and Baanx, a company that “closes the gap” between the cryptocurrency world and traditional banking. It’s about a payment card that will allow you to pay with digital assets. The project is currently only in a pilot phase.
MetaMask Card Pilot Gives People More Freedom to Spend Cryptocurrency
– said Lorenzo Santos, senior product manager at Consensys, the company behind the MetaMask wallet.
The MetaMask card represents a major step in removing the friction that has traditionally existed between blockchain and real-world commerce. It is a paradigm shift that offers the best of both worlds.
– he added.
The pilot is open to selected users from the European Union and the United Kingdom. How can you check if you are one of the chosen ones? Simply open the MetaMask application and check if the “Card” tab has appeared (it should be on the navigation bar on the left). If so, after clicking on it, you will be redirected to the Crypto Life platform. There, you will have to configure your account and card.
Why do I need this card?
The MetaMask card is supposed to be an innovative solution because it “eliminates the need to transfer cryptocurrencies” through a third party, which is actually not in line with the idea of blockchain.
Most traditional cryptocurrency cards work similarly to prepaid cards, where funds must be transferred to a third party before they can be spent (digital currencies).
– MetaMask explains on its website.
The project card works like a debit card – cardholders can pay directly with cryptocurrencies they have in their wallet. There is no third party in the process.
As part of the pilot phase, the card can be integrated with Apple Pay or Google Pay. The card supports USDC, USDT and WETH.
If you are not eligible to participate in the pilot phase but would like to be notified when you can do so in the future, simply fill out the form on the Consensys website.
