FinTech company Mercuryo launched the Spend debit card, allowing users in the European Economic Area (EEA) to spend crypto directly from their wallets. The card is issued on the Mastercard payment network and integrates with Apple Pay and Google Pay.
Mercuryo, a leading provider of crypto payment solutions, announced the launch of Spend, a Mastercard crypto debit card that enables the use of digital assets for everyday transactions in the EEA.
Spend solves the problem of exchanging cryptocurrency for fiat money to pay for goods and services. Crypto card users will be able to spend digital assets directly from their crypto wallets. Cardholders will also have an option to integrate their crypto cards with Apple Pay and Google Pay.
The new debit card is focused on non-custodial crypto wallets, meaning private key storage will be handled by users. Spend supports multiple blockchains, including Ethereum, Solana, Polkadot, TON, Near, ZKsync, Injective, and others. To sign up for the card, you’ll need to pay €1.60 for issuance and €1 monthly for maintenance. Mercuryo’s fee for transferring assets to fiat is 0.95% of the transaction amount. The card balance can be topped up by selling cryptocurrency, after which the funds are immediately available for use.
The Spend card is only available in the European Economic Area (EEA), as Mercuryo is licensed to operate as a crypto-asset service provider in this region. In the future, it’s planned to expand the geography of the product to other regions.
Crypto debit cards on the Mastercard payment network were previously issued by DeFi company 1inch Network, crypto exchange Binance, leading cryptocurrency wallet MetaMask, as well as commercial banks in Uzbekistan.
