MetaMask announces Baanx, Mastercard-powered crypto debit card

Finance firms • August 14, 2024, 8:39AM EDT
Published 1 minute earlier on
The Block

Quick Take

  • MetaMask announced the pilot launch of its self-titled MetaMask Card.
  • The card is powered by Mastercard and the fintech platform Baanx.

MetaMask announced the pilot launch of its self-titled MetaMask Card — powered by Mastercard and fintech platform Baanx — that allows the crypto wallet's users to spend cryptocurrency for everyday purchases.

The card is limited to a few thousand digital-only cards available to users in the European Union and the United Kingdom in its current phase, according to a press release.

Notably, users must hold their crypto on-chain on the Linea network. MetaMask is used to delegate funds for the card. Being a self-custodial wallet, users remain in control over their private keys.

“This gives people more freedom to spend their assets; in this case, crypto,” Lorenzo Santos, senior product manager at Consensys, said.

“MetaMask Card represents a major step to removing the friction that has existed between the blockchain and traditional payments," they added, stating: "This is a paradigm shift that offers the best of both worlds.”

MetaMask's card is similar to other Baanx-powered crypto debit cards, such as the CL Card, which allows Ledger users to spend their crypto wherever Mastercard is accepted.

Meanwhile, other crypto debit cards connected to centralized, custodial platforms — such as Coinbase Card and Crypto.com Visa Card — allow for similar spendability.


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About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].

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