Mastercard Partners to Enable Crypto Spending Through Non-Custodial Wallets

Mercuryo has teamed up with Mastercard to introduce "Spend" in Europe, enabling users to create virtual debit cards for spending 40 cryptocurrencies at over 100 million merchants. Issued by Quicko, these euro-denominated cards bridge crypto wallets with traditional payments and support quick setup with Apple Pay and Google Pay. Available in the European Economic Area, Spend features low fees and a €40,000 monthly limit, with plans for global expansion.

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Because Bitcoin

September 5, 2024

Mercuryo, a crypto payments infrastructure platform, has launched "Spend" in Europe, enabling users to create virtual debit cards via their non-custodial wallets. As per a recent The Block report, these cards allow payments with 40 cryptocurrencies at over 100 million Mastercard network merchants.

Issued by Quicko, the euro-denominated Mastercards connect self-custodial crypto wallets with traditional payment systems. The Spend card can be set up in minutes, linked to Apple Pay or Google Pay, and automatically converts crypto to fiat for merchants.

Spend is a "plug-and-play" solution for non-custodial wallets, offering the same security as traditional debit cards but requiring additional KYC and AML checks.

“Our goal at Mercuryo is to bridge the gap between web3 and fiat transactions,” said CEO Petr Kozyakov, emphasizing the card's role in making digital tokens as accessible as fiat.

Currently available in the European Economic Area, Spend has a €1.60 issuance fee, a €1 monthly fee, and a €40,000 monthly spending limit. Mercuryo plans to expand to other regions globally.


Resources:

The Block