FameEX Hot Topics | Mastercard launches non-custodial crypto spending through new partnership

Mastercard, the global payment giant, is expanding its support for non-custodial cryptocurrency wallets through a new collaboration, enabling users to spend crypto while maintaining full control over their assets. This move builds on the company’s previous pilot program with the self-custodial MetaMask wallet in August and marks a new partnership with European crypto payments provider Mercuryo.

In this collaboration, Mastercard introduces a euro-denominated debit card, allowing users to spend cryptocurrencies like Bitcoin (BTC) stored in self-custodial wallets. These wallets enable individuals to act as their own bank, offering the ability to store assets without relying on centralized platforms such as banks or exchanges. Unlike custodial wallets, where a third party manages the private key, self-custodial wallets place the responsibility on the user to secure their funds through sole ownership of the private key.

Christian Rau, senior vice president of Mastercard’s crypto and fintech enablement, emphasized that this collaboration with Mercuryo strengthens Mastercard’s commitment to supporting self-custodial wallets. “We’re working closely with partners to innovate and enhance the self-custody wallet experience,” Rau said. “Through our collaboration with Mercuryo, we’re breaking down barriers between blockchain and traditional payments, providing consumers with a secure and easy way to spend their digital assets anywhere Mastercard is accepted.”

Founded in 1966 and headquartered in the United States, Mastercard operates in over 210 countries and territories. It offers a range of financial services, including payment card services.

Mastercard’s entrance into the crypto space aligns with its broader strategy. In February 2021, the company officially announced support for cryptocurrency on its network, recognizing the growing role of cryptocurrencies and stablecoins in the global payments ecosystem. Payments remain one of the most significant use cases for crypto, making Mastercard’s move a natural step in the evolving financial landscape.

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