Ethereum-based crypto wallet MetaMask is reportedly experimenting with an entirely on-chain payment card, in partnership with Mastercard.
According to promotional materials, this Baanx-issued payment card will function on Mastercard’s enormous network.
Decentralized Web3 Payment Solution utilizing MetaMask
A prospective partnership between Mastercard and MetaMask unites two titans of their respective industries. The largest self-custody wallet, MetaMask, has more than 30 million monthly active users. Mastercard, conversely, contributes significantly to the conventional financial system through its extensive network of credit and debit cards.
The marketing materials obtained by CoinDesk indicate that the MetaMask/Mastercard payment card would be “the first truly decentralized web3 payment solution” and “allow users to spend their cryptocurrencies wherever cards are accepted on everyday purchases.”
Recently, both Mastercard and its competitor Visa have been actively participating in discussions and collaborations with public blockchain developer communities and self-custody wallet providers.
Mastercard partnered with Ledger, a hardware wallet company, and MetaMask in October 2023. Concurrently, a prominent Solana wallet provider, Solflare, has introduced a novel functionality that empowers MetaMask users to easily manage their Solana portfolios from within the existing UI of their MetaMask wallet.
Conversely, Visa has collaborated with the Solana blockchain and the USDC stablecoin to investigate potential solutions for cross-border payments and tackle obstacles like Ethereum gas fees.
Would Airdrop Happen In 2024?
MetaMask, a reputable non-custodial cryptocurrency wallet, will likely initiate its eagerly anticipated airdrop at some point this year. Despite industry-wide speculation regarding MetaMask’s intentions to distribute tokens via airdrop, definitive information has yet to be disclosed.
As interest increases, individuals are anxious to acquire information regarding the prerequisites for eligibility to partake in the airdrop. As of now, MetaMask has not issued an official statement regarding the airdrop. The announcement, however, could be made at any time this year.
