MetaMask and Mastercard launch US payment card with onchain rewards
MetaMask and Mastercard have launched a self-custodial payment card in the US offering onchain rewards in mUSD stablecoin.Summary
Consensys' MetaMask wallet is partnering with Mastercard to launch a self-custodial payment card in the United States, distinguishing itself from custodial crypto cards by allowing users to retain control of their assets until the moment of payment. Powered by Baanx (now Monavate), the card is accepted wherever Mastercard is used and is compatible with Apple Pay and Google Pay. Cardholders can earn cashback rewards paid out in MetaMask's mUSD stablecoin, with standard users earning 1% and premium users earning up to 3% on the first $10,000 spent annually. The mUSD stablecoin is issued by Bridge, a Stripe-owned platform, and is backed 1:1 by high-quality, liquid dollar-equivalent assets. This launch follows a trend of rapid adoption for crypto-native payment cards as demand for practical crypto spending solutions grows.
(Source：The Block)