Mastercard Teams Up with Mercuryo to Launch Crypto Debit Card

By: Isha Das

Mastercard has recently collaborated with crypto payment provider Mercuryo to introduce a groundbreaking debit card called 'Spend'. This new card allows users to make payments directly from their self-custodial wallets using various digital assets, including Bitcoin.

Announced on September 5, Mercuryo described the 'Spend' card as a multi-chain crypto card that connects directly to users' wallets. The primary selling point is the facilitation of payments without any peer-to-peer risks or banking involvement when withdrawing funds. Users maintain full control of their assets, which is a highly desired feature in the volatile world of digital currencies.

Initially, the card is exclusive to European customers, but plans are underway for global expansion. The card operates as a euro-denominated debit card and supports purchases for goods and services. For added convenience, it integrates with Apple Pay and Google Pay.

Key Features

The 'Spend' card offers robust multi-chain support, enabling transactions across networks such as Ethereum, Solana, Polkadot, Near, ZKsync, TON, and more. This broad flexibility allows users to make payments using a wide variety of cryptocurrencies.

However, the card is not without fees. There is a €1.60 issuance fee, a €1 monthly maintenance charge, and a 0.95% withdrawal fee. Despite these costs, many see the convenience and functionality as a fair trade-off.

Crypto's Expanding Role

This initiative further underscores the increasing role of cryptocurrency in the global financial system. As one of the major global payment processors, Mastercard serves almost 1 billion customers across more than 210 countries. The collaboration with Mercuryo demonstrates Mastercard's ongoing commitment to merging traditional payment systems with the evolving digital asset landscape.

Earlier this year, Mastercard launched the Crypto Credential System aimed at simplifying and securing peer-to-peer crypto transactions. Now operational across multiple exchanges in Europe and Latin America, this service allows users to send cryptocurrencies using simple aliases.

Not to be left behind, Visa, another giant in the payments industry, also made significant strides in the crypto space. Recently, Visa partnered with Swiss-based Tangem AG to enhance the integration of crypto into the traditional financial system.

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