Bitcoin: Mastercard Launches A Self-managed Crypto Card

For 50 years, Mastercard has been a payment giant, with over 3 billion active cards worldwide. Whether it’s credit cards, traveler’s checks, or other solutions, the company has adapted. Recently, it expanded its horizon by launching cryptocurrency-related services, including Bitcoin cards. But the boldest move is the new crypto card, a true revolution in the world of digital payments.

Bitcoin and Mastercard: new era, new card

Mastercard, which Bitcoin is about to dethrone in transaction volume, has struck hard with a card dedicated to Bitcoin payments, allowing users to spend their cryptos directly without prior conversion to fiat currency. Imagine being able to buy your morning coffee with satoshis without even thinking about it. That’s exactly what this innovation offers. 

By partnering with Mercuryo, Mastercard allows users to spend their Bitcoins in over 100 million stores that accept its cards worldwide.

• Card usable in over 100 million points of sale;
• No conversion to fiat currency required;
• Enhanced security with real-time notifications.

This is a significant advancement for Bitcoin holders who want to maximize the use of their cryptos without going through centralized platforms. 

However, users must manage their own wallets, which may deter some. As a Mastercard executive noted, “this card brings unprecedented convenience to cryptocurrency users for their daily purchases “.

A major turning point that could further democratize the use of Bitcoin.

Mastercard rides the crypto wave

Mastercard doesn’t stop at Bitcoin. It has clearly bet on the entire crypto market. In addition to its partnership with Mercuryo, it has teamed up with heavyweights like MetaMask and Circle to offer crypto payment solutions.

The new non-custodial card represents an achievement of this strategy. It allows users to maintain full control over their cryptocurrencies, a breakthrough praised by many in the industry.

But this luxury comes at a price. The Mercuryo card imposes a 1.60 euro issuance fee and a one-euro monthly maintenance fee, not to mention the 0.95% exit fees. However, for crypto enthusiasts, these costs are often considered acceptable given the benefits. 

Christian Rau, vice-president at Mastercard, stated that the company’s mission is to “remove barriers between blockchain and traditional payments“. 

This partnership with Mercuryo could well redefine how we perceive crypto payments.

Between the crypto debit card in partnership with MetaMask and Baanx, and the Crypto Credential solution, Mastercard is establishing itself as a pioneer in crypto transactions.