MetaMask to launch self-custody cryptocurrency card with Mastercard
The new card will be Mastercard-backed, but it will face stiff competition from centralised exchanges offering identical products.
MetaMask, a wallet service, is creating a crypto payments card that allows users to spend their funds, giving crypto holders more methods to use their tokens.
Mastercard is supporting the new card, which is being created in collaboration with CompoSecure and Baanx, according to the business. The solution employs smart contracts to complete IRL (in real life) transactions in less than five seconds. It runs on the Linea network, a layer-2 scaling solution built on Ethereum.
The companies promoted the self-custodied cryptocurrency card as an alternative to the dangers associated with centralised exchanges. In February, Bybit, the second-largest cryptocurrency exchange by volume, was hacked for $1.4 billion, causing significant concern in the crypto community.
MetaMask’s card launch marks its entry into a competitive section of the Bitcoin market. Major exchanges, including Binance, Bybit, Coinbase, and Crypto.com, already provide crypto debit cards, with some offering “crypto-back” benefits that allow users to earn digital assets for their purchases.
MetaMask has struggled recently as interest and engagement in the Ethereum ecosystem have dwindled. According to Dune Analytics, the wallet collected only $289,312 in fees for the week of April 14, which is significantly less than the $1.3 million collected for the same period a year ago.
Stablecoin and BTC payments are growing use cases for crypto
Payments have emerged as one of the most rapidly developing use cases for cryptocurrencies in 2025, providing a means of bringing real-world utility to digital assets.
Luxury brands such as Dorsia have begun accepting various cryptocurrencies as payment, while messaging app Signal is reportedly looking into using Bitcoin for peer-to-peer transactions, and a bill has been introduced in New York to legalise the use of Bitcoin and other cryptocurrencies for state payments.