MetaMask has announced the launch of a cryptocurrency payments card that allows users to spend self-custodied funds, providing cryptocurrency holders with more ways to use their tokens.
This new card, backed by Mastercard, is being developed with CompoSecure and Baanx.
It employs smart contracts for real-world transactions, has a processing speed under five seconds and operates on the Linea network, a Layer 2 Ethereum scaling solution.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
The companies promote the self-custodied crypto card as a safer alternative to the risks associated with centralized exchanges.
With the launch of this card, MetaMask joins a competitive segment of the cryptocurrency market, where large platforms such as Binance, Bybit, Coinbase and Crypto.com already offer cryptocurrency debit cards.