- MetaMask launches a self-custodied crypto payments card backed by Mastercard, allowing users to spend crypto directly.
- MetaMask enters a competitive market already populated by crypto exchanges like Binance and Coinbase, while facing decreased revenue from its core services.
MetaMask is rolling out a new cryptocurrency payments card that enables users to spend self-custodied digital assets directly. The Mastercard-backed payment solution, developed in partnership with CompoSecure and Baanx, allows crypto holders to make real-world purchases using their token holdings without surrendering custody of their assets.
The card utilizes smart contracts to execute in-person transactions with processing speeds under five seconds. Operating on the Linea network, Ethereum’s layer-2 scaling solution, the card represents a significant step toward practical cryptocurrency use in daily transactions.
According to an official announcement, the companies are marketing the self-custodied card as a safer alternative to relying on centralized exchanges, which have faced security challenges. This positioning follows the February hack of Bybit, the second-largest crypto exchange by volume, which lost $1.4 billion in a breach that unsettled many in the cryptocurrency community.
Entering a Competitive Landscape
With this launch, MetaMask steps into a crowded market segment where major exchanges including Binance, Coinbase, Bybit, and crypto.com already offer crypto debit cards. Many competitors provide “crypto-back” rewards programs that let users earn digital assets on purchases made with their cards.
The move comes as MetaMask faces challenges in its core business. Data from Dune Analytics shows the wallet collected only $289,312 in fees for the week of April 14, a significant drop from the $1.3 million generated during the same period last year.
Growing Adoption of Crypto Payments
Cryptocurrency payments have emerged as one of the fastest-growing applications for digital assets in 2025, bringing practical utility to the sector. Luxury brands like Dorsia now accept various cryptocurrencies, while messaging platform Signal is reportedly exploring Bitcoin integration for peer-to-peer transactions.
The trend extends to government adoption as well, with New York lawmakers introducing legislation to legalize Bitcoin and other cryptocurrencies for state payments.
This development comes amid growing competition between traditional cryptocurrency payments and centralized stablecoin solutions, with each offering different benefits for consumers seeking to use digital assets in everyday transactions.
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