Mastercard has joined forces with cryptocurrency payments provider Mercuryo to introduce a euro-based debit card that allows users to spend Bitcoin and other cryptocurrencies directly from non-custodial wallets, according to Cointelegraph.
BREAKING: 🇪🇺 Mastercard unveils euro non-custodial #Bitcoin and cryptocurrency debit card.
They boast over 100 MILLION merchants 🚀 pic.twitter.com/xpASRDrhVx
— Bitcoin Magazine (@BitcoinMagazine) September 5, 2024
This card provides European Bitcoin users the ability to spend directly from their self-hosted wallets at any of Mastercard’s extensive network of over 100 million merchants worldwide, eliminating the need to hold funds with a third party.
Mastercard is a leading payments provider serving nearly 3 billion customers across more than 210 nations. This new integration showcases the company’s ongoing commitment to link Bitcoin with its vast traditional payments ecosystem.
“We are offering consumers who wish to utilize their digital assets a simple, dependable, and secure method for doing so, wherever Mastercard is accepted,” stated Christian Rau, Senior Vice President of Mastercard’s crypto division.
The card facilitates spending Bitcoin and various cryptocurrencies by merely connecting a non-custodial wallet. Users can spend without needing to sell their Bitcoin and cryptocurrencies on an exchange, ensuring they retain complete ownership. However, it is worth noting that Mastercard’s card comes with certain fees, including a €1.6 issuance charge, a €1 monthly maintenance fee, and a 0.95% transaction fee.
Nonetheless, by embracing non-custodial wallets, Mastercard effectively addresses a key concern and offers users the autonomy to manage their Bitcoin and crypto directly. This initiative resonates with an increasing number of users favoring self-hosted wallets over centralized exchanges.
