Mastercard Launches Crypto Debit Card in Europe

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Mastercard partners with Mercuryo to launch “Spend” debit card, allowing European users to pay directly with Bitcoin and many other cryptocurrencies from a self-custody wallet.

Mastercard announced on September 5 that it has partnered with cryptocurrency payment service provider Mercuryo to launch a “Spend” debit card in Europe, allowing users to make payments directly from their self-managed cryptocurrency wallet using a variety of digital assets, including Bitcoin.

“Spend” is a multi chain cryptocurrency card that connects directly to the user’s wallet, allowing transactions without the need for a central bank. This ensures users have full control over their assets, while minimizing risks and transaction processing times. The card acts as a euro-denominated debit card, allowing users to purchase goods and services anywhere Mastercard is accepted.

For added convenience, “Spend” is integrated with Apple Pay and Google Pay, providing a seamless mobile payment experience. The card also supports multi chain, allowing users to transact across Ethereum, Solana, Polkadot, Near, ZKsync, TON, and many other blockchain networks. This feature opens up the possibility of paying with a wide range of popular cryptocurrencies, meeting the diverse needs of users.

However, using “Spend” will come with some fees. The card issuance fee is €1.60, the monthly maintenance fee is €1, and there is a cash withdrawal fee of 0.95%. Mastercard and Mercuryo plan to expand the card to other regions outside of Europe in the near future.

The launch of “Spend” marks another step forward for Mastercard in its push into cryptocurrency payments. In May, Mastercard launched its “Crypto Credential” system, which aims to simplify and secure peer-to-peer (P2P) transactions using cryptocurrencies. The system, which is active on multiple exchanges in Europe and Latin America, allows users to send cryptocurrencies using pseudonyms instead of complicated wallet addresses.

Not only Mastercard, its competitor Visa is also actively participating in the cryptocurrency field. Recently, Visa has partnered with Switzerland-based Tangem AG to develop a solution to connect cryptocurrencies with the traditional financial system.

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