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MetaMask, a leading Web3 wallet provider developed by ConsenSys, has announced the launch of its new blockchain-based debit card. This card is built in collaboration with global payments giant Mastercard and crypto payments firm Baanx.
In a statement released on Wednesday, Consensys’ MetaMask revealed that the new debit card, known as the MetaMask Card, will be introduced in phases. This phased rollout aims to allow MetaMask to fine-tune the user experience and address any potential challenges before making the card widely available.
The initial phase, also known as the pilot, will see the product distributed to a limited number of users within select countries in the European Union as well as the United Kingdom.
According to the Web3 wallet provider, the pilot will involve a few thousand digital-only cards issued to an exclusive group of early adopters. These users will be among the first to experience the seamless integration of blockchain technology into everyday financial transactions.
This phase is expected to provide valuable insights and feedback that will shape the card’s broader distribution and functionality. Once the pilot phase is completed, MetaMask plans to make the cards available to a wider audience in both the UK and EU before the end of this year.
However, global users will have to wait longer to access the cards, as the company plans to conduct additional pilots in other regions before a full rollout in the coming quarters.
Collaboration with Industry Leaders
MetaMask sought the expertise of both Mastercard and Baanx, both of which have extensive experience in crypto payments and infrastructure development, to build the cards. Mastercard is also currently working together with Baanx on its Web3 payment initiative, which aims to connect traditional payment firms with crypto-native companies to enable cross-border payments.
MetaMask explained that the new card is designed to operate within the existing financial system while leveraging the unique benefits of blockchain technology. According to the firm, the card allows users to spend their Ethereum and other supported cryptocurrencies directly from their MetaMask wallet, providing a new level of convenience and flexibility for crypto enthusiasts.
“Anybody who has access to a mobile phone should be able to get access to a basic range of financial services by default. This would have huge implications in countries with large numbers of unbanked or underbanked individuals,” said Simon Jones, Chief Commercial Officer at Baanx.
The card will be fully supported by the Linea blockchain, allowing users to spend their cryptocurrencies, such as wrapped Ethereum (wETH), including popular stablecoins like USDT and USDC. MetaMask had initially announced its plans to launch a crypto-native debit card in March this year.
