MetaMask is rolling out a physical crypto card for direct payments at retail locations that accept Mastercard.
MetaMask, a leading non-custodial crypto wallet, announced the release of MetaMask Metal, a physical crypto card. The new product is developed in partnership with FinTech company Baanx and premium payment card manufacturer CompoSecure.
MetaMask Metal will allow users to make purchases directly with cryptocurrencies while maintaining full control over their assets. The card is integrated with the MetaMask ecosystem and enables instant conversion of crypto into fiat currency for payments at Mastercard-supported locations — over 90 million merchants worldwide.
The card will be made of durable metal and weigh 17 grams. Supported assets include ETH, USDC, USDT, and other popular tokens. In the initial launch phase, the card will be available in the U.S., followed by the U.K. and European countries. Users will also be able to receive salaries and other transfers directly in crypto via MetaMask Metal. Perks include usage bonuses such as cashback and participation in exclusive promotions.
According to Alejandro Machado, Product Manager at MetaMask, MetaMask Metal is a step toward the mass adoption of Web3 payments and removing the barriers between traditional and decentralized finance. Baanx CEO Garth Howat added that the new card will make it easier for millions of users to interact with cryptocurrencies in everyday life.
CompoSecure, the company manufacturing MetaMask’s physical cards, previously partnered with leading financial institutions and crypto platforms, including Nexo and Binance. To date, the company issued over 30 million premium metal cards.
Mastercard recently launched a platform enabling stablecoin payments, one feature of which includes the issuance of crypto cards.
