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MetaMask Blockchain Debit Card Launched With Layer 2 Linea Support

Key Points:

MetaMask, in collaboration with Mastercard and Baanx, introduces the MetaMask Card for Ethereum users.
The MetaMask blockchain debit card allows users to spend cryptocurrencies directly from the wallet while retaining custody of their funds until the moment of payment.

According to CoinDesk, MetaMask, the widely used Ethereum self-custodial crypto wallet, announced the initial rollout of its blockchain-based debit card, which was developed in partnership with Mastercard and crypto payment firm Baanx.

MetaMask Rolls Out Blockchain-Based Debit Card Across Europe and the UK

First, the MetaMask blockchain debit card will be introduced as a small pilot, in which only some digital cards will be exposed to users within the countries of the European Union and the UK. MetaMask anticipates that it will expand the distribution later this year, with targets for a full rollout in these regions and additional pilot launches in other areas over the coming months.

The move shows the increased convergence between traditional financial services and blockchain technology. With institutions globally looking to tokenize traditional assets, some asset managers are coming up with cryptocurrency exchange-traded funds as large payment companies look to incorporate blockchain technology into their systems.

Mastercard’s cooperation with Baanx connects heritage payment rails to crypto platforms, including Ledger and decentralized exchange 1inch. On its part, Visa has also teamed up with Circle’s USDC stablecoin and the Solana network to drive greater efficiencies for cross-border payments.

MetaMask Blockchain Debit Card With Expansion Plans

MetaMask Card will function just like a regular debit card; nevertheless, it is distinguished by the fact that a user is able to pay directly with his digital assets stored in MetaMask’s wallet. All of this is designed to make sure that users keep custody of the funds until the transaction is realized.

The MetaMask blockchain debit card supports a range of cryptocurrencies, including USDC, USDT, and wrapped ETH, which are all managed on Linea blockchain—an Ethereum Layer 2 network developed by ConsenSys, the parent company of MetaMask.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.