Mastercard Teams Up with Mercuryo for New Crypto-Focused Debit Card

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Mastercard is continuing its foray into the world of cryptocurrencies by partnering with crypto payments provider Mercuryo to launch a new euro-denominated debit card called Spend. The card allows users to make purchases directly using crypto from their non-custodial wallets, a significant step in streamlining crypto payments for everyday transactions.

Seamless Crypto Spending

The Spend card, announced in a recent Mercuryo media release, aims to provide a seamless payment experience for crypto holders. It enables users to spend their digital assets at over 100 million merchants worldwide within Mastercard’s expansive network. By integrating with both Apple Pay and Google Pay, the Spend card offers the convenience of traditional payment methods while retaining the flexibility of crypto.

What sets this card apart is its compatibility with non-custodial wallets, which allow users to maintain full control of their funds without relying on centralized platforms like exchanges or banks. The card offers a fast, cost-effective way to convert crypto to fiat in real time, allowing payments to be made instantly without the need for intermediaries.

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Multi-Chain Support

As per the announcement, the Spend card has multi-chain capability. This means that the card supports a wide range of blockchain networks, including Ethereum, Solana, Injective, Near, ZKsync, Polkadot, and TON. This multi-chain compatibility makes it possible for users to manage and spend assets across various blockchains, adding flexibility and appeal to crypto users who hold diversified portfolios.

In addition, the Spend card offers users the ability to maintain separate balances between their wallets and the card, giving them more control over how they manage their crypto holdings.

Mercuryo has already played a significant role in the crypto space, helping over 7 million users purchase crypto with their preferred payment methods since its launch in 2018.

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Mastercard’s Blockchain Expansion

The collaboration with Mercuryo is part of Mastercard’s broader strategy to expand its blockchain initiatives. Earlier this year, the company added five new startups to its Start Path Blockchain and Digital Assets program, which serves as a fintech accelerator to foster blockchain innovation.

In another move, Mastercard resumed its services with Binance in June, allowing users to make payments and deposits using its card.