Metamask, Collaborates with Mastercard to Launch Digital Asset Payment Card

The cryptocurrency wallet service Metamask, in collaboration with Mastercard and payment infrastructure companies, will introduce the 'Metamask Metal Payment Card' which allows real-time cryptocurrency payments without going through centralized exchanges.

The payment card manufacturer Composecure announced on the 28th (local time) that they will jointly develop this new physical card with Metamask, Mastercard, and Banks. This card adopts a method of using cryptocurrency directly from Metamask's self-custody wallet for payments, distinguishing it from existing prepaid or pre-exchange cards. The payment process is processed in real-time on-chain through smart contracts, taking an average of less than 5 seconds for approval.

This card uses Mastercard's global payment network and operates based on the Ethereum Layer2 solution Linea blockchain developed by ConsenSys. It is designed so that cryptocurrencies can be used directly at millions of Mastercard-affiliated merchants worldwide.

Metamask initially unveiled this card at the ETH Denver event earlier this year, emphasizing it as an innovative case applicable to everyday life such as coffee purchases, airline ticket payments, and rent payments. Metamask's product manager Ale Machado said, “In the past, cryptocurrency users were excluded from everyday finance,” adding that “this card will serve as an opportunity to close that gap.”

With this launch, Metamask has officially entered the cryptocurrency payment card market. Binance, Coinbase, Crypto.com, etc., are already operating their own cards, and some have features that provide rewards in cryptocurrency upon payment. However, Metamask emphasizes security and control by keeping assets in the user's wallet until just before payment.

The card design and security design are handled by the specialized metal card manufacturer Composecure, while Banks supports the technical implementation based on experience in building payment systems with major companies such as Ledger and 1inch.

Interested users can register on the waiting list through the Metamask portfolio before global launch. This card launch is expected to be an important turning point in expanding the real-use scope of digital assets and strengthening their connection with the real economy.