Mastercard and Mercuryo, a European supplier of crypto payments infrastructure, have announced the launch of a new debit card that allows users to conduct transactions in the eurozone using cryptocurrencies.
Mastercard and Mercuryo Collaboration
Mastercard and Mercuryo have joined forces to create a debit card that enables users to pay for purchases in euros using cryptocurrencies. The new card allows the use of cryptocurrencies such as Bitcoin directly from self-custodial wallets at over 100 million retail locations worldwide that accept Mastercard.
Card Functionalities
The card by Mastercard and Mercuryo eliminates barriers between blockchain technologies and traditional payment systems, offering a secure and reliable way to use cryptocurrency assets. The card also incorporates Bitcoin support, reflecting the company's expanded involvement in this sector. It simplifies spending and integration for customers, enhancing their purchasing power through digital assets.
Significance for the Cryptocurrency Market
The card incurs a €1.6 issuance fee, a €1 monthly maintenance fee, and a 0.95% off-ramp transaction fee set by Mercuryo. Despite these costs, the card represents a significant step forward in the adoption of cryptocurrencies, linking traditional financial systems with decentralized digital currencies. This innovation enhances financial autonomy and convenience for users.
Recently, MetaMask, a crypto wallet for the Ethereum platform, launched a blockchain-based debit card developed in collaboration with Mastercard and crypto payments specialist Baanx.
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