WATCH THE VIDEO HERE Global payment giant Mastercard has made a significant step towards bridging the gap between traditional financial institutions and Web 3 by announcing a first-of-its-kind Bitcoin debit card. The Non-custodial Bitcoin debit card by Mastercard would allow its holders to make purchases directly with Bitcoin by making use of their debit cards like a regular everyday transaction. The New development opens up Bitcoin holders to over 100 million existing merchants who support Mastercard for their everyday transactions. The Web 3 debit card is a product of a partnership between Mastercard and Mercuyro, a crypto payment infrastructure provider. The debit card is set to be rolled out to European users in its pilot stage. The new Mastercard Web 3 Debit card is Euro-dominated and is designed with the concept of self-custody giving its users total control over their assets, unlike Centralized wallets where assets are partly in the custody of the providers. Mastercard’s partnership with Mercuyro isn’t the first time the global payment giants are partnering with a Web 3 firm to integrate crypto into their services. Mastercard in August rolled out a crypto debit card in partnership with Metamask a leading self-custodial wallet firm in the crypto industry. The payment giants through its principal member Immersive also had a similar collaboration with Xaman Wallets a self-custody wallet firm to roll out Self custodial Web 3 wallets. ‘The complexities of this process have been an obstacle for both buyers and sellers as it limits both choice and the purchasing power of stored crypto ’Raj explained Mastercard believes self-custody web 3 debit cards solve this problem while integrating cryptocurrency into everyday global transactions. The new Web 3 debit card by Mastercard and Mercuyro comes with some responsibility and commission for its prospective holders.
Mastercard rolls out Non-custodial Bitcoin debit card in historic move
