{"id":92315,"date":"2024-09-05T08:15:14","date_gmt":"2024-09-05T12:15:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=92315"},"modified":"2024-09-05T08:18:45","modified_gmt":"2024-09-05T12:18:45","slug":"mastercard-support-self-custodial-crypto-wallet","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/mastercard-support-self-custodial-crypto-wallet\/","title":{"rendered":"Mastercard New\u00a0Partnership Supports Self-Custodial Crypto Wallets"},"content":{"rendered":"\n

Mastercard collaborates with Mercuryo to develop a euro-denominated crypto debit card<\/a>, allowing customers to spend crypto from self-custodial wallets at over 100 million merchants.<\/p>\n\n\n\n

\"Mastercard<\/figure>\n\n\n\n

Global payment giant Mastercard is broadening its support for non-custodial cryptocurrency wallets through a new collaboration to allow users to spend crypto while “being their own bank.”<\/p>\n\n\n\n

After launching a crypto debit card in partnership with the self-custodial wallet MetaMask<\/a> in August, Mastercard is now teaming up with European crypto payments infrastructure provider Mercuryo to bridge traditional finance and cryptocurrency further.<\/p>\n\n\n\n

In this collaboration, Mastercard has introduced a euro-denominated debit card that enables users to spend cryptocurrencies, such as Bitcoin, stored on self-custodial wallets at more than 100 million merchants within the Mastercard network.<\/p>\n\n\n\n

Mastercard's Mission to Promote Crypto Self-Custody<\/h2>\n\n\n\n

Self-custody is a foundational concept in cryptocurrency, allowing users to store their assets without relying on a centralized platform like a bank or exchange. Unlike custodial wallets, self-custodial wallets require users to be fully responsible for securing their funds as the sole custodian of their private keys.<\/p>\n\n\n\n

\"Mastercard
Self-custodial wallets versus custodial wallets. Source:\u00a0Tastycrypto\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n

Christian Rau, senior vice president of Mastercard\u2019s crypto and fintech enablement, highlighted that the company\u2019s collaboration with Mercuryo strengthens its growing commitment to self-custodial wallets.<\/p>\n\n\n\n

\u201cAt Mastercard, we are working closely with partners to innovate and enhance the self-custody wallet experience,\u201d Rau told Cointelegraph, adding:<\/p>\n\n\n\n

\n

\u201cThrough our collaboration with Mercuryo, we\u2019re eliminating the traditional barriers between blockchain and conventional payments, providing consumers who want to spend their digital assets with an easy, reliable, and secure way to do so, anywhere Mastercard is accepted.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Mastercard\u2019s Push Toward Non-Custodial Wallets<\/h2>\n\n\n\n

Founded in 1966, Mastercard is a global payment services corporation in more than 210 countries and territories. With payments being a key use case for crypto, Mastercard\u2019s venture into the crypto market was a natural progression. <\/p>\n\n\n\n

The payment giant first announced support for cryptocurrency on its network in February 2021, acknowledging the growing importance of cryptocurrencies and stablecoins in the payments industry.<\/p>\n\n\n\n

Since entering the crypto space, Mastercard<\/use><\/svg><\/span><\/a> has partnered with various industry players, including USDC stablecoin issuer Circle and major U.S. crypto exchange Coinbase.<\/p>\n\n\n\n
\"Mastercard

Source:\u00a0Mastercard<\/em><\/figcaption><\/figure>\n\n\n\n

Raj Dhamodharan, Mastercard\u2019s blockchain and digital asset lead, emphasized that the company's focus on supporting self-custody addresses the challenges associated with using centralized exchanges to buy and sell crypto.<\/p>\n\n\n\n

He stated, \u201cMany crypto hodlers try to avoid exchanges in the first place.\u201d He further explained, \u201cThe 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.\u201d<\/p>\n\n\n\n

\"Mastercard<\/figure>\n\n\n\n

Mastercard\u2019s expanding crypto and self-custody services come with associated costs. For instance, the new Mastercard-branded Spend card by Mercuryo carries a 1.6 euro ($1.8) issuance fee, a 1 euro ($1.1) monthly maintenance fee, and a 0.95% off-ramp fee imposed by Mercuryo.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mastercard collaborates with Mercuryo to develop a euro-denominated crypto debit card, allowing customers to spend crypto from self-custodial wallets at over 100 million merchants. Global payment giant Mastercard is broadening its support for non-custodial cryptocurrency wallets through a new collaboration to allow users to spend crypto while “being their own bank.” After launching a crypto […]<\/p>\n","protected":false},"author":56,"featured_media":92317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12094,152,16653,1560,1227],"class_list":["post-92315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adoption-2","tag-bitcoin","tag-debit-cards","tag-mastercard","tag-payments"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/Mastercard-New-Partnership-Supports-Self-Custodial-Crypto-Wallets.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=92315"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/92315\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/92317"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=92315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=92315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=92315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}