Mastercard has collaborated with Mercuryo, a European supplier of crypto payments infrastructure, to introduce a debit card that allows users to make transactions in euros using cryptocurrency.
This card enables users to utilize cryptocurrencies such as Bitcoin directly from their self-custodial wallets at more than 100 million retailers globally that accept Mastercard.
Mastercard seeks to remove obstacles between blockchain and conventional payment systems, providing a secure and dependable method for customers to utilize their cryptocurrency holdings.
Since announcing its support for Bitcoin in 2021, the company has been actively expanding its participation in this field. The new Mastercard debit card streamlines expenditure and integration by enabling customers to immediately utilize their crypto, hence broadening the buying capacity of stored digital assets.
The card incurs a €1.6 fee for issuance, a €1 monthly fee for maintenance, and a 0.95% fee for off-ramp transactions imposed by Mercuryo. Although there are expenses involved, the card serves as a major advancement in the widespread acceptance of crypto, connecting conventional financial systems with the decentralized realm of digital currencies. This advancement improves the ability of users to have greater financial autonomy and ease of access.
Last month, MetaMask, a self-custodial crypto wallet for the Ethereum network, launched a blockchain-based debit card developed with Mastercard and crypto payments specialist Baanx.
