Ethereum-based renowned cryptocurrency wallet MetaMask is reportedly experimenting with an entirely on-chain payment card, in partnership with Mastercard. As per the promotional materials, this payment card will work on Mastercard’s giant network and issued by Baanx.

MetaMask on Decentralized Web3 Payment Solution

The potential collaboration between MetaMask and Mastercard brings together two industry giants. MetaMask boasts the largest self-custody wallet with over 30 million monthly active users. On the other hand, Mastercard plays a vital role in the traditional financial system with its widespread credit and debit card network.

The marketing materials accessed by CoinDesk show that MetaMask/Mastercard payment card would be “the first ever truly decentralized web3 payment solution,” allowing users to spend their crypto “on everyday purchases, everywhere cards are accepted”.

In recent times, both Mastercard and its competitor Visa have been actively engaging with public blockchain developer communities and providers of self-custody wallets. Last October 2023, Mastercard collaborated with hardware wallet company Ledger and MetaMask. During the same time, Solflare, a leading Solana wallet provider, has unveiled a new feature enabling MetaMask users to effortlessly oversee their Solana portfolios directly within their current MetaMask wallet interface.

On the other hand, Visa has been partnering with the USDC stablecoin and the Solana blockchain to explore cross-border payments solutions and address challenges such as Ethereum gas fees.

Is Airdrop Coming In 2024?

MetaMask, a well-known non-custodial cryptocurrency wallet, is likely to launch its long-awaited airdrop sometime this year. Despite rumors circulating within the industry about MetaMask’s plans for a token airdrop, concrete details have yet to be released. As anticipation grows, individuals are eager to learn about the eligibility criteria for participating in the airdrop.

Well, there’s still no official confirmation from MetaMask regarding the airdrop. However, the announcement can drop anytime this year. Thus, we at CoinGape have prepared a detailed guide on how to qualify for the MetaMask airdrop.

The post Mastercard Partners With MetaMask To Test the First On-Chain Payment Card appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am