Mastercard has expanded its support for cryptocurrency by partnering with Mercuryo to launch a euro-denominated crypto debit card.
Mastercard and Mercuryo Partnership
Mastercard has expanded its cryptocurrency support by partnering with Mercuryo, a European crypto payments infrastructure provider, to launch a euro-denominated crypto debit card. This new card allows users to spend cryptocurrencies like Bitcoin directly from their self-custodial wallets at over 100M merchants worldwide who accept Mastercard.
Simplifying Crypto Usage
Self-custodial wallets give users complete control over their digital assets without relying on a bank or exchange. This differs from custodial wallets where a provider has the private keys. Mastercard aims to eliminate barriers between blockchain and traditional payment systems by offering a secure and reliable way for users to spend their crypto assets.
User Benefits
Traditional methods often require users to move assets from their self-custodial wallets to an exchange, convert them to fiat currency, and transfer them to a bank account. This process limits the use of crypto for everyday purchases. The new Mastercard debit card simplifies this by allowing users to spend their crypto directly, thereby expanding the purchasing power of stored digital assets.
This initiative by Mastercard and Mercuryo represents a significant step towards mainstream crypto adoption and increasing the practical use of cryptocurrencies in everyday transactions.
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