MetaMask, a self-custodial crypto wallet for the Ethereum network, is launching a blockchain-based debit card developed with Mastercard and crypto payments specialist Baanx.
The card will initially be available in a limited pilot of a few thousand digital-only cards to European Union and UK users. The company plans broader distribution later this year, with a full rollout in the EU and UK and more pilot launches in other regions.
The offering comes as traditional financial services and blockchain-based digital assets are increasingly intertwined. Mastercard has been working with Baanx on its web3 payments initiative, connecting traditional payments with crypto platforms like Ledger and the decentralized exchange 1inch.
Visa has partnered with Circle’s USDC stablecoin and the Solana network to speed up cross-border payments. The card works like a typical debit card. Still, it allows purchases directly with digital asset holdings in Metamask’s self-custodial wallet, allowing users to retain custody of their funds until the moment of payment.
Users can spend their USDC, USDT, and wETH cryptocurrencies held on the Linea blockchain, an Ethereum layer-2 network developed by Consensys.
