Key Takeaways
- Metamask brought its Mastercard debit card to 13 new nations, offering users 1% cashback in mUSD.
- Utexo data shows crypto card use grew 2.7 times, pushing the card payment market into the mainstream.
- Following a February U.S. launch, Gal Eldar next aims to weave Metamask cards into daily global transactions.
Metamask Card Extends Service to 13 Countries in Latam
As debit cards become one of the preferred means of spending crypto, companies are racing to bring their services to key growth markets, including Latam.
Metamask, one of the largest crypto wallet companies, has announced an expansion of its cryptocard services in Latam, including 13 new countries where users can now opt in.
On social media, Metamask listed Chile, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Guyana, Nicaragua, Panama, Paraguay, Peru, Suriname, and Uruguay as new countries supported by this service, inviting users to apply for the Mastercard-backed digital card. The card was already available in Brazil and Argentina.
Each purchase auto-converts crypto funds in the user’s wallet to local currency, allowing the transaction to settle automatically. Users receive 1% cashback in each transaction deposited in mUSD, Metamask’s own dollar-pegged stablecoin.
The move comes at a time when crypto cards have grown to become a regular means of spending crypto worldwide. According to Alex Oblakevich, head of research at Utexo, activity in the crypto card sector has increased, with transactions growing 2.7 times with no correlation to BTC’s price.
Also, he revealed that deposits have become regular rather than large, an indication that the product is transitioning from an early-adopter phase into a mainstream stage, with users topping up their cards to pay for regular purchases and services.
The company has been expanding its user base since it launched the Metamask Card pilot back in 2024, back when crypto cards were still a rarity. At the time, Metamask claimed that it had launched the “world’s first Mastercard debit card that enables instant spending directly from your self-custody wallet.”
In February, Metamask announced a nationwide launch of this card in the U.S., with Gal Eldar, Product Lead at Metamask, stressing that their objective was to make crypto “seamlessly woven into daily life.”
