Mastercard is continuing its foray into the world of cryptocurrencies by partnering with crypto payments provider Mercuryo to launch a new euro-denominated debit card called Spend. The card allows users to make purchases directly using crypto from their non-custodial wallets, a significant step in streamlining crypto payments for everyday transactions.
Seamless Crypto Spending
The Spend card, announced in a recent Mercuryo media release, aims to provide a seamless payment experience for crypto holders. It enables users to spend their digital assets at over 100 million merchants worldwide within Mastercard’s expansive network. By integrating with both Apple Pay and Google Pay, the Spend card offers the convenience of traditional payment methods while retaining the flexibility of crypto.
Multi-Chain Support
As per the announcement, the Spend card has multi-chain capability. This means that the card supports a wide range of blockchain networks, including Ethereum, Solana, Injective, Near, ZKsync, Polkadot, and TON. This multi-chain compatibility makes it possible for users to manage and spend assets across various blockchains, adding flexibility and appeal to crypto users who hold diversified portfolios.
Mastercard’s Blockchain Expansion
The collaboration with Mercuryo is part of Mastercard’s broader strategy to expand its blockchain initiatives. Earlier this year, the company added five new startups to its Start Path Blockchain and Digital Assets program, which serves as a fintech accelerator to foster blockchain innovation. In another move, Mastercard resumed its services with Binance in June, allowing users to make payments and deposits using its card.
The launch of the Spend card is a significant step for both Mastercard and Mercuryo, providing users with a new convenient way to spend their cryptocurrencies in everyday life. With multi-chain support and integration with popular payment services, the card meets the needs of a wide range of users.
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