- The payment card will allow customers to use their cryptocurrency for regular transactions.
- This Baanx-issued payment card will be compatible with Mastercard’s extensive network.
Prominent Ethereum-based crypto wallet MetaMask is reportedly working with Mastercard to test an all-on-chain payment card. The advertising materials state that this Baanx-issued payment card will be compatible with Mastercard’s extensive network.
A possible partnership between MetaMask and Mastercard would unite two behemoths in the business world. With more than 30 million active users per month, MetaMask is the biggest self-custody wallet. However, with its extensive network of credit and debit cards, Mastercard is an integral part of the conventional monetary system.
Truly Decentralized Web3 Payment Solution
A MetaMask/Mastercard payment card would be “the first ever truly decentralized web3 payment solution,” according to the marketing material, letting customers use their cryptocurrency for regular transactions anywhere that accepts the card.
Recently, both Mastercard and Visa have been very involved with public blockchain development communities and self-custody wallet providers. Ledger and MetaMask, two hardware wallet companies, and Mastercard worked together in October 2023. Simultaneously, a top Solana wallet provider, Solflare, has introduced a new functionality that lets MetaMask users easily manage their Solana portfolios from inside their existing MetaMask wallet UI.
However, in an effort to find solutions for international payments and tackle issues like Ethereum gas costs, Visa has been collaborating with the USDC stablecoin and the Solana blockchain.
MetaMask’s much anticipated airdrop is expected to be live at some point this year. Concrete information or an official statement on MetaMask’s plans for a token airdrop has not been disclosed, despite industry rumors to the contrary. People are becoming more and more excited about the airdrop, and they want to know how to qualify to take part.
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