This update marks the card’s first support for European fiat-pegged stablecoins
This update marks the card’s first support for European fiat-pegged stablecoins, broadening its reach to users across the region. With this launch, MetaMask Card users in Europe can now on-ramp with zero fees. Additionally, they can spend directly from their wallet balances in stores, online, or platforms that accept Mastercard globally.
Composable (CL) Technology powers the card and works with the MetaMask Portfolio interface.
MetaMask’s move reflects the growing demand for real-world crypto use cases, especially in the EU and UK. Regulations around stablecoins have gained clarity in these regions lately, sparking increased interest.
The popularity of stablecoins in these regions is thanks to their price stability. This allows users to avoid volatility and retain control over their assets. The MetaMask Card is non-custodial.This means users stay in control of their funds.
In addition, the MetaMask Card uses smart contracts to execute transactions. So, transactions on the card are processed and completed within 5 seconds, making it one of the fastest.
MetaMask is not the only crypto-focused platform offering crypto-linked cards. The likes of Bybit, Binance, Coinbase, and Crypto.com offer similar cards. However, MetaMask places a strong emphasis on decentralization and self-custody.
Many crypto users resonate with MetaMask’s emphasis on decentralization. This comes as users lose confidence in centralized platforms due to high-profile hacks. Notably, Bybit, a centralized crypto exchange, suffered a hack that led to $1.4 billion being wiped off.
Interestingly, while centralized exchanges have recorded notable hacks, recent studies show that decentralized platforms, especially DeFi protocols, are the prime targets of crypto hackers.
As reported by Altcoin Buzz, the bulk of the $92 million lost to hacks in April came from decentralized exchanges. April witnessed 15 hack cases, and all attacks focused on decentralized platforms. This stat, no doubt, calls for increased security amongst crypto protocols.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers, and their risk tolerance may differ from yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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Was lucky enough to be the first 100 ppl to get a @MetaMask debit card! Got invited to the MM X pudgy event where debit card holders went inside a snow globe and grabbed balloons to be redeemed for USDC later Won 1K and got a new wallet at @gucci using my card🔥 Easy & quick🦊
MetaMask Card is powered by @Mastercard. 👀 🔥🔥🔥🔥🔥🔥
Today, we announced our end-to-end capabilities to support stablecoins, ensuring payments can be made or received using them - anytime, anywhere. Alongside proven leaders across Web3, finance and fintech, we’re empowering consumers and businesses to use stablecoins as easily as
