Crypto holders in Europe can now use their digital assets for everyday purchases directly from self-custodial wallets, thanks to a new payment card from Mastercard. On Thursday, Mercuryo, a fintech platform focused on Web3, announced a partnership with Mastercard to launch “Spend,” a multi-chain crypto card that functions like a debit card.
This new card allows users to make crypto payments with over 90 million merchants in Mastercard’s network and integrates seamlessly with Apple Pay and Google Pay. Mercuryo stated that leading Web3 wallets will soon incorporate the Spend card, enabling users to top up with crypto and spend fiat worldwide.
Unlike previous crypto payment cards, which required partnerships with centralized exchanges, Mercuryo’s Spend card allows users to convert crypto to fiat directly from self-custodial wallets. The card is compatible with multiple blockchain networks, including Ethereum, Solana, Polkadot, and TON.
Users can maintain separate balances between their wallets and the Spend card. The card can be instantly topped up by selling crypto from their wallet, with the funds immediately converted into fiat, unlike traditional methods that take 1 to 2 business days.
Currently available in the European Economic Area (EEA), Spend will be rolled out globally. This follows other recent innovations from Mastercard, such as its partnership with MetaMask on a crypto debit card and the launch of “Crypto Credential,” a system that simplifies cross-border transfers for crypto users.
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