As a seasoned researcher who has been closely observing the evolution of cryptocurrencies and their integration into traditional finance systems, I find Mastercard’s new partnership with Mercuryo and the launch of the Spend debit card to be an exciting development.
Mastercard is increasing its presence within the cryptocurrency payment sector by introducing a new debit card for crypto, enabling users to buy goods directly from their non-custodial digital wallets
Starting September 5th, it’s now possible for European crypto owners to utilize Bitcoin (BTC) and other digital assets stored in self-managed wallets at over a million merchants linked to the Mastercard network. This implies that users can make transactions directly from their personal wallets without encountering peer-to-peer risks or the need for banks
Mastercard partners with Mercuryo
The recently introduced debit card named Spend is the result of a partnership between Mastercard and Mercuryo, a European cryptocurrency payments service provider. This card extends Mastercard’s crypto capabilities by offering a euro-denominated debit card, empowering users to make purchases at more than 100 million merchants worldwide
As cryptocurrency transactions experience a significant surge due to global acceptance, integrating with Mercuryo empowers users to utilize their personal wallets to purchase products and services from more than 100 million vendors
Investment significantly strengthens the sector’s effort to promote broader cryptocurrency integration within conventional banking systems, following Mastercard’s trial of a crypto debit card alongside MetaMask. This trial was conducted in August
Fees and multi-chain support
As stated by Mercuryo, Spend is set to provide cross-compatibility with multiple blockchains such as Ethereum, Solana, and Injective. This feature allows users the freedom to transact in cryptocurrencies over any of the supported platforms
The new card has some significant costs attached – an initial issue fee of €1.6, a regular monthly maintenance fee of €1, and a 0.95% withdrawal fee when using the card, as imposed by Mercuryo
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2024-09-05 17:25