MetaMask has launched a significant innovation in the world of decentralized finance (DeFi) with its new self-custodial card, now available to users across 49 US states. In partnership with Mastercard and Monavate, this card provides an unprecedented level of flexibility for digital asset holders, enabling them to spend their balances at millions of merchant locations worldwide.
The MetaMask Card is built on the concept of self-custody, where users retain control over their assets until they are authorized for payment. This eliminates the need for centralized exchange intermediaries and allows users to utilize their digital assets in a more practical and seamless way.
Two distinct tiers are available: Virtual Tier (free) and Metal Tier ($199/year). The Metal Tier card offers premium features, including 3% cashback on purchases, no foreign transaction fees, and higher ATM withdrawal limits. Rewards for both tiers are paid out in mUSD, an Ethereum-based stablecoin issued via the Stripe-owned Bridge platform.