tl;dr
Crypto payments firm Mercuryo has launched a Mastercard debit card, called Spend, for crypto holders in Europe. The virtual payment method allows users to convert their crypto into fiat for purchases at over 90 million Mastercard merchants. The card is issued by Polish fintech company Quicko and is ...
Mercuryo, a crypto payments firm, has launched a Mastercard debit card called Spend for crypto holders in Europe. The virtual payment method allows users to convert their crypto into fiat for purchases at over 90 million Mastercard merchants.
The card is embedded into a non-custodial wallet compatible with 40 cryptocurrencies and has a monthly spending limit of €40,000. Users are subjected to an issuance fee of €1.60 and a €1 per month maintenance fee, along with compliance with anti-money laundering and know-your-consumer rules.
This release follows similar Mastercard payment methods targeting digital asset holders and is part of Mercuryo's plan to expand access to Spend globally, following its launch in the European Economic Area (EEA).
Spend aims to become a widely accepted payment method, capitalizing on Mercuryo’s competitive off-ramp fees and security. The company's co-founder and CEO, Petr Kozyakov, sees the launch of Spend as a pivotal step in integrating cryptocurrency seamlessly with traditional payment methods.
The successful launch in Europe positions Mercuryo to roll out access to Spend in other regions around the globe in the near future.
Mercuryo's debut of its crypto-to-fiat Mastercard debit card follows the trend of several similar Mastercard payment methods targeting digital asset holders over the past few years, representing a new wave of innovation in the crypto payment sector.
For more information, visit Decrypt.