{"id":36009,"date":"2024-08-14T18:37:04","date_gmt":"2024-08-14T18:37:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/metamask-partners-with-mastercard-for-a-self-custody-debit-card-pilot-program\/"},"modified":"2024-08-14T18:37:04","modified_gmt":"2024-08-14T18:37:04","slug":"metamask-partners-with-mastercard-for-a-self-custody-debit-card-pilot-program","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/metamask-partners-with-mastercard-for-a-self-custody-debit-card-pilot-program\/","title":{"rendered":"MetaMask partners with Mastercard for a self-custody debit card pilot program"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679397599374-9a749ee3-823a-4b8d-8e6c-71c6c2c3bf65-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679397599374-9a749ee3-823a-4b8d-8e6c-71c6c2c3bf65-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679397599374-9a749ee3-823a-4b8d-8e6c-71c6c2c3bf65-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/1679397599374-9a749ee3-823a-4b8d-8e6c-71c6c2c3bf65-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>MetaMask and Mastercard launches a self-custody debit card pilot program in the UK and EU.<\/li>\n<li>The card converts crypto to fiat at the point of transaction using a smart contract.<\/li>\n<li>The card aims at increasing financial inclusion and will expand to other regions over time.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/metamask-wallet-review-2023-is-it-a-reliable-cryptocurrency-wallet\/\">MetaMask<\/a>, a leading crypto wallet company, has partnered with Mastercard and digital payments company Baanx to launch a self-custody debit card pilot program.<\/p>\n<p>Initially available to users in the United Kingdom and the European Union, the card will allow customers to securely hold their digital assets until the exact moment of a transaction when they are automatically converted into fiat currency for payments.<\/p>\n<p>The pilot program is expected to expand to other regions over time, potentially revolutionizing the way crypto assets are used in everyday transactions.<\/p>\n<h2>How will the MetaMask debit card work?<\/h2>\n<p>The self-custody debit card represents a significant advancement in the integration of cryptocurrency into mainstream financial systems.<\/p>\n<p>When a MetaMask card is used at a retail outlet, online store, or other merchant, an on-chain transaction is initiated, transferring tokens from the user\u2019s wallet to the \u201cCrypto Life\u201d smart contract. This smart contract authorizes the transaction through the point-of-sale system, ensuring seamless conversion from crypto to fiat currency, which is then processed through Mastercard\u2019s payment network.<\/p>\n<p>Users have the flexibility to choose which crypto assets to use for payment and can also decide where to store their private keys.<\/p>\n<h2>Increasing financial inclusion<\/h2>\n<p>The MetaMask debit card aligns with broader goals of increasing financial inclusion, particularly for the world\u2019s unbanked population, which, according to the World Bank, exceeds one billion people.<\/p>\n<p>Simon Jones, Chief Commercial Officer at Baanx, highlighted the potential of this technology to bring essential financial services to anyone with a mobile phone, a vision that could dramatically improve access in regions with limited banking infrastructure.<\/p>\n<p>Moreover, with inflation rates skyrocketing in countries like Argentina, this card offers a practical solution for individuals seeking to protect their wealth by converting crypto assets into stable fiat currencies.<\/p>\n<p>The MetaMask pilot could be a significant step toward the mainstream adoption of cryptocurrency for everyday use, especially in high-inflation environments.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/metamask-partners-with-mastercard-for-a-self-custody-debit-card-pilot-program\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) MetaMask and Mastercard launches a self-custody debit card pilot program in the UK and EU. The card converts crypto to fiat at the point of transaction using a smart contract. The card aims at increasing financial inclusion and will expand to [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":36010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36009"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36009"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36010"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}