Mastercard rolls out crypto debit card for non-custodial use in Europe

Mastercard has expanded its presence in the crypto payments space with a new crypto debit card that allows users to make direct purchases using non-custodial wallets.

European crypto holders can now spend Bitcoin (BTC) and other digital assets stored in self-custody wallets at millions of merchants on the Mastercard network, according to an announcement on September 5. This means users can spend directly from their wallets without the risks of peer-to-peer transactions or banks.

Mastercard partners with Mercuryo

The new debit card, called Spend, is a collaboration between Mastercard and Europe-based crypto payments provider Mercuryo. It enables Mastercard’s crypto support via a euro-denominated debit card and allows users to pay for goods and services at over 100 million merchants.

As crypto payments see a huge surge with wider adoption across the world, the integration with Mercuryo allows holders to purchase goods and services at over 100 million merchants using their own custodial wallet.

The spending provides a major boost to the industry’s push for greater adoption across traditional finance and comes after Mastercard piloted a crypto debit card with MetaMask. The pilot took place in August.

Fees and multi-chain support

According to Mercuryo, Spend will offer multi-chain support, including Ethereum, Solana, and Injective. Multi-chain support means users have the flexibility to buy and pay with crypto on any of the supported chains.

The new card comes with significant fees, including a €1.6 issuance fee and a €1 monthly maintenance fee. Mercuryo will also charge cardholders a 0.95% withdrawal fee.