Mastercard has expanded its footprint in the crypto payments space with a new crypto debit card that allows users to make direct purchases using non-custodial wallets.
According to an announcement on Sept. 5, European crypto holders can now spend Bitcoin (BTC) nd other digital assets stored in self-custodial wallets at millions of merchants within the Mastercard network. This means users can spend directly from their wallets without involving peer-to-peer risks or banks.
Mastercard partners with Mercuryo
The new debit card, called Spend, is a collaboration between Mastercard and Europe-based crypto payments provider Mercuryo. It enables Mastercard’s crypto support via a euro-denominated debit card, allowing users to pay for goods and services at over 100 million merchants.
While crypto payments have seen a major boost amid wider adoption worldwide, the integration with Mercuryo allows holders to use their self-custodial wallets to pay for goods and services at over 100 million merchants.
Spend is a big boost to the industry’s push for further adoption across traditional finance, and comes after Mastercard piloted a crypto debit card with MetaMask. The pilot program took place in August.
Fees and multi-chain support
According to Mercuryo, Spend will offer multi-chain support, including Ethereum, Solana and Injective. The multi-chain support means users have the flexibility to purchase and pay with crypto across any of the supported chains·
The new card comes with notable fees, which includes a €1.6 issuance fee and €1 in monthly maintenance fee. Mercuryo will also charge card users a 0.95% withdrawal fee.