MetaMask, a well-known Ethereum blockchain wallet, is now experimenting with a breakthrough on-chain payment card powered by Mastercard’s enormous network and issued by Baanx.
MetaMask has the largest user population among self-custody wallets, with more than 30 million active users monthly.
On the other hand, Mastercard is a major player in traditional finance, providing critical infrastructure for credit and debit card transactions around the world.
The projected MetaMask/Mastercard payment card is being marketed as the world’s first totally decentralized web3 payment solution. If implemented, users will be able to use their bitcoin for ordinary purchases wherever cards are accepted, according to the marketing materials. As of March 11, 2024, at 21:33 UTC, Baanx has been announced as the card’s issuer.
Mastercard and Visa have been quietly collaborating with public blockchain developers and self-custody wallet providers.
Meanwhile, Visa has teamed with USDC stablecoin and the Solana blockchain to improve cross-border payments, tackling concerns such as Ethereum gas fees. When reached, MetaMask’s developer, Consensys, declined to comment.
