- Mastercard and Mercuryo Partnership
- Non-Custodial Wallets and Their Benefits
- Costs of the New Debit Card
Mastercard is expanding its support for non-custodial cryptocurrency wallets through a collaboration with European crypto payments provider Mercuryo. Users will be able to spend cryptocurrency while maintaining full control of their assets.
Mastercard and Mercuryo Partnership
Following its crypto debit card pilot with MetaMask in August, Mastercard has teamed up with Mercuryo to launch a euro-denominated debit card. This card enables users to spend cryptocurrencies like Bitcoin stored in self-custodial wallets at over 100 million merchants within the Mastercard network.
Non-Custodial Wallets and Their Benefits
Self-custodial wallets give users complete control over their assets without relying on centralized platforms such as banks or exchanges. "Through our collaboration with Mercuryo, we’re eliminating traditional barriers between blockchain and conventional payments, providing consumers who want to spend their digital assets with an easy, reliable, and secure way to do so anywhere Mastercard is accepted," said Christian Rau, Mastercard’s senior vice president for crypto and fintech enablement.
Costs of the New Debit Card
However, the new Mastercard debit card by Mercuryo comes with associated costs, including a €1.60 ($1.80) issuance fee, a €1 ($1.10) monthly maintenance fee, and a 0.95% off-ramp fee charged by Mercuryo.
Expanding the ability to spend cryptocurrency through non-custodial wallets could significantly simplify the process of using digital assets, providing users with greater flexibility and control over their financial holdings.
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