MetaMask, ConsenSys' popular crypto wallet, is about to launch a new payment card through a partnership with Mastercard.
A notable feature is that the MetaMask Card follows a completely self-custodial model. In other words, unlike most traditional crypto cards – where users have to deposit assets into their exchange account or entrust them to a third party for safekeeping – the MetaMask card allows users to maintain control of their assets in their wallet until the payment is made.
Like the versions already launched in the UK and Europe, the MetaMask card is operated by Baanx (now renamed Monavate) and can be used anywhere that accepts Mastercard. According to ConsenSys, the card is also compatible with Apple Pay and Google Pay.
A Mastercard representative stated that MetaMask Chia the same goal as the company: to help users spend their crypto balances more safely, smoothly, and conveniently in their daily lives.
In addition to payment functionality, users can also receive cashback on purchases. This reward is paid in MetaMask's mUSD stablecoin. Regular cardholders typically receive 1% cashback, while premium users can receive up to 3% on their first $10,000 spent each year.
mUSD is a stablecoin issued by Bridge – a stablecoin issuing platform owned by Stripe – and Mint through M0's decentralized infrastructure. According to ConsenSys, this coin is backed 1:1 by high-quality, liquidation USD equivalent assets.
Follow CoinMoi to stay updated on the hottest issues in the crypto market. Okay!!
The article MetaMask and Mastercard launch payment cards in the US first appeared on CoinMoi .
