Consensys' MetaMask has launched a national payment card in the United States in partnership with Mastercard, offering a fully self-custodial spending experience. Unlike conventional crypto cards that require pre-loading funds onto an exchange account, the MetaMask Card leaves assets in the user's wallet until the exact moment of transaction. “Users retain control of their digital assets in their MetaMask wallet until the moment they pay,” Consensys stated.
How It Differs From Traditional Crypto Cards
Most existing crypto-linked cards rely on centralized platforms to hold funds before spending. The MetaMask Card bypasses that step entirely. Powered by Baanx (now Monavate), the card is accepted anywhere Mastercard is available and supports both Apple Pay and Google Pay. Sherri Haymond, Mastercard’s Global Head of Digital Commercialization, said: “MetaMask shares our vision of empowering people to spend their crypto balances securely and seamlessly.”
Cashback Rewards Tied to mUSD Stablecoin
Standard cardholders earn 1% cashback, while premium users can get up to 3% on the first $10,000 spent each year. Rewards are paid in MetaMask’s own stablecoin, mUSD, issued by Bridge (a Stripe-owned platform) and minted through M0’s decentralized infrastructure. Consensys claims the token is backed 1:1 by “high-quality, highly liquid dollar-equivalent assets.” By using a dollar-pegged stablecoin for rewards, MetaMask avoids volatility risks while keeping value inside its ecosystem, potentially boosting wallet engagement and stablecoin transaction volume.
Expanding Self-Custodial Payments in the U.S. Market
The U.S. launch follows earlier rollouts in the UK and EU, indicating Consensys has cleared compliance and infrastructure hurdles for domestic users at scale. Crypto-linked payment cards have seen rising daily transaction activity since late 2024, pushing wallet providers and payment networks to deepen integrations between digital assets and traditional card rails. Mastercard handles network acceptance, while MetaMask maintains wallet-level control. This partnership will test whether U.S. consumers embrace non-custodial wallets for everyday spending on a broad basis.