FameEX Hot Topics | Mastercard introduces non-custodial crypto spending with new partnership

Mastercard, the global payment leader, is expanding its support for non-custodial cryptocurrency wallets through a new partnership, allowing users to spend crypto while maintaining full control of their assets. This builds on a previous pilot program with the self-custodial MetaMask wallet and introduces a collaboration with European crypto payments provider Mercuryo.

As part of this partnership, Mastercard has launched a euro-denominated debit card, enabling users to spend cryptocurrencies like Bitcoin (BTC) stored in self-custodial wallets. Self-custodial wallets empower users to act as their own bank, providing a secure method to store assets without depending on centralized entities like banks or exchanges. Unlike custodial wallets, which rely on a third party to manage the private key, self-custodial wallets require users to take full responsibility for securing their funds.

Christian Rau, Mastercard’s senior vice president of crypto and fintech enablement, emphasized the company's commitment to supporting self-custodial wallets. He stated, “We are working closely with partners to innovate and enhance the self-custody wallet experience. Our collaboration with Mercuryo eliminates barriers between blockchain and traditional payments, offering consumers a reliable, secure, and easy way to spend their digital assets wherever Mastercard is accepted.”

Mastercard, founded in 1966 and based in the United States, operates in over 210 countries and territories, offering a wide range of financial services, including payment cards.

Mastercard’s move into the crypto space is part of a larger strategy. In February 2021, the company officially announced support for cryptocurrency on its network, recognizing the growing importance of cryptocurrencies and stablecoins in global payments. With payments being a key use case for crypto, Mastercard’s integration marks a natural progression in the financial sector's evolution.

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