Key Points:
- Mastercard and Mercuryo launch a new self-custodial crypto card.
- Users can spend crypto with over 90 million merchants worldwide.
- The card offers quick conversion from crypto to cash.
Mastercard has partnered with Mercuryo to launch a new crypto payments card in Europe. The card is called “Spend” and lets users spend their crypto easily and securely. What makes this card special is that it works directly with users’ wallets. This means users have full control over their crypto, without relying on third parties like banks or exchanges.
Spend Your Crypto Anywhere
The “Spend” card allows people in Europe to use their crypto like regular money. It works with over 90 million merchants connected to Mastercard’s payment network. The card also integrates with Apple Pay and Google Pay, making it easy to use for everyday purchases.
Mercuryo, a fintech company focused on web3, teamed up with Mastercard for this project. They highlighted that the card offers fast, cost-effective, and globally accepted payments. Unlike other crypto cards, which need to be linked to centralized exchanges, “Spend” allows users to manage their funds directly from their wallets. This removes risks like high fees and delays that often come with traditional banking.
How the “Spend” Card Works
The “Spend” card is different from traditional methods of converting crypto to cash. Usually, converting crypto to cash takes one or two business days. With the “Spend” card, the process is instant. Users keep a balance in their wallets and can transfer funds to the card whenever needed. Once transferred, the crypto is immediately converted to cash, ready to be spent.
The card works with multiple blockchain networks, including Ethereum, Solana, Polkadot, and more. This flexibility means that users from different blockchain ecosystems can all benefit from this easy-to-use card.
Mastercard’s Crypto Expansion
The “Spend” card is currently available in the European Economic Area (EEA), with plans to expand globally. This launch is part of Mastercard’s broader plan to make crypto more accessible. They recently partnered with Metamask to launch another crypto card. They also introduced “Crypto Credential,” a tool that simplifies cross-border crypto transfers.
These moves show Mastercard’s commitment to the growing crypto market. By offering the “Spend” card, Mastercard and Mercuryo are helping make crypto a regular part of daily life. Users can now spend their crypto just like cash, without the need for middlemen.
Looking Forward, the “Spend” card is a big step forward for crypto users. It offers a fast, simple, and secure way to spend crypto anywhere in Europe. As more people adopt this card, it could pave the way for wider use of cryptocurrencies in everyday transactions.
