New Crypto Payments Card Targets Decentralized Wallet Users
MetaMask, the popular Ethereum-based wallet provider, has announced plans to launch a self-custody crypto payments card, offering users a new way to spend their digital assets directly from their wallets without relying on centralized exchanges.
The card will be backed by Mastercard and developed in collaboration with CompoSecure and Baanx, MetaMask said. The product leverages smart contracts to process real-world transactions (IRL) in under five seconds, operating on the Linea network, a Layer-2 Ethereum scaling solution.
The launch is part of a broader push to offer decentralized alternatives to crypto users, especially in light of security breaches at centralized platforms. In February, Bybit, the second-largest exchange by volume, was hacked for $1.4 billion, highlighting the risks associated with custodial solutions.
Fierce Competition Among Crypto Payment Cards
MetaMask’s entry into the crypto debit card market places it in direct competition with major exchanges like:
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Binance
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Bybit
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Coinbase
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Crypto.com
These platforms already offer crypto debit cards with features like crypto-back rewards — allowing users to earn digital assets when they make purchases.
MetaMask is betting that growing distrust of centralized platforms will drive users toward self-custody solutions, even as competition in the crypto payments space heats up.
MetaMask Faces Broader Challenges
The card launch comes at a time when MetaMask is grappling with declining usage across the Ethereum ecosystem. According to Dune Analytics, MetaMask collected just $289,312 in transaction fees during the week of April 14 — a steep drop compared to the $1.3 million collected during the same period in 2024.
Reduced Ethereum activity, slower decentralized application (dApp) adoption, and rising competition from Layer-2 and multichain wallets have all contributed to headwinds for MetaMask.
By introducing a real-world payment product, MetaMask hopes to diversify its revenue streams and reignite user engagement.
Growing Use Cases for Crypto Payments
The timing may be ideal. In 2025, crypto payments are emerging as one of the fastest-growing use cases for digital assets:
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Luxury membership brand Dorsia now accepts multiple cryptocurrencies for purchases.
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Messaging app Signal is reportedly exploring Bitcoin integration for peer-to-peer (P2P) transactions.
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A bill in New York State aims to legalize crypto payments for government transactions, including taxes and fees.
As payment adoption rises, the infrastructure for spending cryptocurrencies in everyday life continues to expand beyond speculation and investment.
Final Thoughts: Betting on Self-Custody and Real-World Utility
MetaMask’s new crypto card represents a strategic pivot toward real-world utility and greater user sovereignty. By combining self-custody principles with fast payment processing, MetaMask aims to differentiate itself in an increasingly crowded crypto payments landscape.
Whether the move can offset broader declines in the Ethereum ecosystem remains to be seen. But one thing is clear: real-world use cases for crypto are no longer theoretical — and the battle for crypto payments dominance is just beginning.
