After a wait of over a year, MetaMask has just announced the expansion of its cryptocurrency debit card, making the service available in 49 states, including New York. The launch links MetaMask’s self-custodial wallet to the Mastercard merchant network and a portfolio of issuers, including Monavate (formerly Baanx) and Cross River Bank, a move that aims to simplify everyday cryptocurrency spending.
This change is significant for investors and holders as it allows for the simple use of cryptocurrencies as a form of payment at traditional merchants. At the point of sale, selected assets such as ETH and stablecoins (USDC, USDT) are converted to local fiat currency in real time, preserving a self-custodial model and leveraging the full reach of Mastercard.
How the MetaMask Card Works
The MetaMask card functions as a direct extension of the user’s wallet. According to MetaMask, the card “now works everywhere Mastercard is accepted, including compatibility with digital wallets like Apple Pay and Google Pay.” The service is compatible with over 150 million merchants that use Mastercard worldwide, and transactions are made directly from the user’s MetaMask balance, held in custody, instead of requiring pre-loaded fiat currency or custody on an exchange platform.
This is truly significant, as it bridges the gap between a self-custodial wallet and traditional commerce.
MetaMask’s new product features a standard virtual card (with up to 1% cashback in mUSD) and a premium Metal card for $199 per year with benefits such as up to 3% cashback on the first $10,000 spent annually and no fees for foreign transactions.
The card’s availability in New York indicates that MetaMask has met the jurisdictional requirements tied to one of the strictest state regulatory frameworks in the US. The launch relies on traditional financial channels (an issuing bank and the Mastercard network) while preserving on-chain control up to the point of payment. This hybrid design reduces reliance on custody platforms for everyday payments but places settlement, AML/KYC regulations, and issuer compliance under the bank and network’s rules.
MetaMask also offers on-chain incentives: cardholders can earn on-chain rewards and access yield on unused balances through DeFi integrations like Aave, according to the company. Premium card cashback payments in native stablecoin (mUSD) and on-chain yield options directly link consumer incentives to cryptocurrency liquidity and DeFi protocols.
“The card now works everywhere Mastercard is accepted,” MetaMask stated, presenting the product as an extension of the self-custody wallet experience, rather than a custodial card.
For users, the immediate trade-offs are access and cost: wider merchant acceptance and Apple/Google Pay integration come at the expense of a $199 annual fee for the premium card if consumers value higher limits and cashback. For regulators and banks, the launch provides a testing ground for bank-issued, wallet-linked payments operating within established payment and compliance frameworks.
