5 September 2024
Mastercard has partnered with Bitcoin and crypto payments provider Mercury to launch a euro-denominated debit card allowing users to spend Bitcoin and crypto directly from non-custodial wallets, as per Cointelegraph.
JUST IN: 🇪🇺 Mastercard launches euro non-custodial #Bitcoin and crypto debit card.
They have over 100 MILLION merchants 🚀 pic.twitter.com/xpASRDrhVx
— Bitcoin Magazine (@BitcoinMagazine) September 5, 2024
The card enables European Bitcoin holders to spend from their self-hosted wallets at any of Mastercard’s over 100 million merchants globally without needing to custody funds with an intermediary.
Mastercard is a payments titan serving nearly 1 billion customers in over 210 countries. This latest integration reflects the company’s growing efforts to bridge Bitcoin with its sprawling traditional payments infrastructure.
“We are providing consumers who want to spend their digital assets with an easy, reliable, and secure way to do so, anywhere Mastercard is accepted,” said Christian Rau, Senior Vice President of Mastercard’s crypto unit.
The card allows spending Bitcoin and other crypto simply by connecting a non-custodial wallet. Users avoid selling Bitcoin and crypto on an exchange before spending, maintaining full ownership. However, Mastercard’s card does have fees, including a €1.6 issuance fee, €1 monthly maintenance fee, and a 0.95% transaction fee.
Nonetheless, by supporting non-custodial wallets, Mastercard addresses a major pain point and grants users the flexibility to directly control their Bitcoin and crypto. The move caters to a growing audience preferring self-hosted wallets over centralized exchanges.