- Mastercard’s new euro-denominated debit card allows direct spending of cryptocurrencies from self-custodial wallets.
- The card is a collaboration with Mercuryo, enabling use at over 100 million Mastercard merchants worldwide.
- Fees include €1.6 for issuance, €1 monthly maintenance, and a 0.95% conversion fee from crypto to fiat.
Mastercard’s latest innovation is a euro debit card designed for direct cryptocurrency use, facilitating seamless spending from self-custodial wallets.
Partnering with Mercuryo, the card enables users to make purchases at over 100 million Mastercard-affiliated merchants globally, bypassing the need to transfer assets to centralized exchanges.
Mastercard and Mercuryo Launch Direct Crypto Debit Card for Euro Transactions
The card comes with several fees: an issuance fee of €1.6, a monthly maintenance fee of €1, and a 0.95% charge for converting crypto to fiat. These fees reflect the costs of integrating decentralized assets with traditional payment networks. By eliminating the middle steps usually required to use crypto assets, Mastercard is setting a new precedent for how digital currencies can be spent directly in everyday transactions.
The card is part of Mastercard’s broader strategy to integrate cryptocurrencies into mainstream financial systems. It follows earlier initiatives, such as the pilot program with MetaMask and the introduction of the Mastercard Crypto Credential, which facilitates crypto transactions using aliases. These efforts underline Mastercard’s commitment to bridging the gap between blockchain technology and traditional payment methods.
To use the card, customers will incur several fees: a €1.6 issuance fee, €1 monthly maintenance, and a 0.95% fee for converting cryptocurrencies to fiat. These charges are intended to cover the costs associated with connecting self-custodial wallets to Mastercard’s payment network. Despite these fees, the card offers a more streamlined and user-friendly approach to spending digital assets.
This development marks a significant milestone in the adoption of cryptocurrencies for everyday use. By simplifying the spending process and integrating it with a widely accepted payment network, Mastercard and Mercuryo are setting the stage for broader crypto adoption and more practical applications of digital currencies.
Mastercard’s new euro debit card represents a major step forward in the practical use of cryptocurrencies, making it easier for users to spend digital assets directly at a vast network of merchants.
“We’re offering consumers an easy, reliable, and secure way to spend their digital assets anywhere Mastercard is accepted,” – Christian Rau, Mastercard’s senior vice president of crypto and fintech enablement.
