One of the most popular crypto wallets of all times, MetaMask has officially launched a co-branded payment card in collaboration with Mastercard.
Consensys, the Ethereum software company behind the MetaMask wallet, and Mastercard have launched the MetaMask Card in 49 US states, including New York for the first time. The card brings self-custody over digital assets to another level, letting users spend crypto directly from their wallet at 150 million merchants, without transferring funds to an exchange first.
The card is available in both virtual and physical form, with different benefits and reward tiers applied. For instance, its premium Metal version comes with 3% cashback and no foreign fees, while Virtual card enables immediate spending with 1% cashback.
The new crypto payment product is available almost in the entire U.S. territory. Vermont is currently the only exception. Notably, it is the first time New York residents can access the crypto card product, a welcome development for local crypto enthusiasts, given the state’s historically restrictive posture toward crypto businesses. Gaining approval to operate in New York signals that Consensys has met strict BitLicense regime requirements, a meaningful signal for institutional credibility and for future compliance elsewhere.
The card launch was a long-awaited project, having spent two years in the making. MetaMask and Mastercard first piloted the card in the UK and European Union in August 2024, with a limited digital-only rollout. Further pilots ran across select US markets in 2024 and 2025 before Thursday’s full general availability announcement.
MetaMask Card differs from many other similar crypto-powered payment cards on the market and not only by bright branded design with a well-known fox image. Many such products work by requiring users to move their funds onto a centralised exchange, convert them to fiat or pre-load crypto to the card to hold a balance there before spending. With MetaMask Card, digital assets stay in the user’s self-custodied wallet until the moment a purchase is made, at which point they are converted automatically at the point of sale.
In practical terms, this means users never give up custody of their funds to an intermediary, which is an important factor for many crypto holders too familiar with crypto storage risks. The card is issued by Cross River Bank — an FDIC-insured institution, and supported operationally by Monavate, formerly known as Baanx. It works with Apple Pay and Google Pay for contactless payments and can be used instantly after approval via Mastercard Digital First technology, with no need to wait for a physical card.
MetaMask premium Metal Card is targeting higher-volume users, frequent travellers, and those who want elevated rewards. The standard version offers cashback too, but in smaller amounts. Rewards are paid out in mUSD — MetaMask’s Ethereum-based stablecoin, issued by Stripe last year. Unlike standard cashback schemes where users redeem cashback at partner retailers, mUSD can be used on-chain: held, transferred, or deployed into DeFi protocols. Unspent wallet balances can also generate yield through liquidity pool lending, via an integration with Aave, one of the largest decentralised lending platforms.
With the US launch, the MetaMask Card is live in 9 markets: the United States, United Kingdom, European Economic Area countries, Argentina, Brazil, Canada, Colombia, Mexico, and Switzerland. Consensys has confirmed further market expansions are planned, though no specific countries or timelines have been disclosed.
Image created by ChatGPT
