Summary:

MetaMask has partnered with Mastercard to launch a self-custodial payment card in the US.
Cardholders can earn up to 3% cashback paid in MetaMask's mUSD stablecoin.
The card works anywhere Mastercard is accepted and supports Apple Pay and Google Pay.
Funds remain in users' wallets until the moment of payment.
The rollout expands MetaMask's crypto spending push across multiple global markets.

MetaMask, the widely used crypto wallet developed by Consensys, is officially bringing its payment card to users across the United States through a new partnership with Mastercard. The MetaMask Card is designed to let users spend crypto directly from their wallets without surrendering custody of their assets ahead of time. Unlike many existing crypto-linked cards that require funds to be moved onto centralized platforms before spending, this version keeps digital assets under user control until the exact moment of purchase. Consensys emphasized the distinction in its announcement:

"Unlike most traditional crypto cards, which are custodial and require users to pre-load funds onto an exchange account, MetaMask Card is fully self-custodial," Consensys also said. "Users retain control of their digital assets in their MetaMask wallet until the moment they pay." Source

That structure aims to address one of the longstanding tensions in crypto payments - how to make digital assets usable in daily life without forcing users to give up direct control of their holdings. The card is powered by Baanx, now operating under the name Monavate, and functions anywhere Mastercard is accepted. It also supports Apple Pay and Google Pay, giving users near-instant access after approval through Mastercard's Digital First technology. According to Mastercard's Global Head of Digital Commercialization, Sherri Haymond:

"MetaMask shares our vision of empowering people to spend their crypto balances securely and seamlessly." Source

The US rollout builds on existing availability in Argentina, Brazil, Canada, Colombia, European Economic Area countries, Mexico, Switzerland, and the United Kingdom.

Onchain Rewards and the mUSD Stablecoin

One of the central features of the MetaMask Card is its reward structure. Users earn cashback that is paid directly in MetaMask's mUSD stablecoin, a dollar-backed digital asset. Standard cardholders receive 1% back on purchases, while premium metal card users can earn up to 3% on the first $10,000 spent each year. After that threshold, rewards revert to 1%. As previously stated by MetaMask:

"Holders will receive 3% USDC cashback on the first $10,000 spend annually, then 1% after that. (terms and conditions apply)" Source

The mUSD stablecoin itself is issued by Bridge, a stablecoin platform owned by Stripe, and minted using M0's decentralized infrastructure. It is backed 1:1 by high-quality, highly liquid dollar-equivalent assets, aiming to maintain parity with the US dollar. This structure allows rewards to remain within the crypto ecosystem. Users also have the option to earn yield on unspent balances by holding tokens such as aUSDC, enabled through integration with decentralized finance protocols like Aave.

In addition to rewards, the card emphasizes security and compliance. It includes Mastercard's ID Theft Protection, Zero Liability protections, and Price Protection features. The metal version is contactless and built with additional safeguards in mind.

A Step Toward Blurring Onchain and Offchain Finance

The broader vision behind the MetaMask Card goes beyond cashback incentives. The initiative reflects a long-term effort to close the gap between decentralized finance and everyday consumer payments.

Gal Eldar, Product Lead at MetaMask, described the goal in direct terms: "We designed MetaMask Card to make crypto disappear. Not go away, but become so seamlessly woven into daily life that the line between onchain and offchain fades away entirely," said Gal Eldar, Product Lead at MetaMask. Mastercard echoed that sentiment, with Sherri Haymond adding: "We're energized to take our work with MetaMask to the next level, building stronger bridges between decentralized finance and everyday finance," said Sherri Haymond, Global Head of Digital Commercialization at Mastercard.

The partnership signals that large payment networks continue to see blockchain infrastructure as complementary to traditional systems rather than competitive. Also crypto wallets are increasingly plugging into them. With more than 150 million merchant locations accepting Mastercard worldwide, the MetaMask Card positions crypto as a backend settlement option that users may not even notice. For Consensys, the US expansion marks another milestone in its broader strategy of integrating blockchain tools into mainstream commerce. By combining self-custody, stablecoin rewards, and global merchant acceptance, the MetaMask Card represents a practical test of whether crypto spending can move from niche adoption to everyday use.