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CompoSecure, Baanx, and MetaMask jointly launch the MetaMask Metal Payment Card to promote cryptocurrency card payments.

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#DeFi
The Block
734Words
Apr 28, 2025

Fintech companies CompoSecure, Baanx, and MetaMask have jointly launched the MetaMask Metal Payment Card, scheduled for a global release in Q2. The card allows users to pay directly from their self-custodied MetaMask wallets without the need to preload funds, convert cryptocurrencies to fiat currency, or rely on centralized exchanges. All transactions are authorized through smart contracts and complete in under five seconds. Users are required to hold cryptocurrencies on the Lineanetwork blockchain. Baanx's Chief Business Officer Simon Jones stated that this collaboration will make cryptocurrency payments as convenient as card payments. MetaMask previously piloted the MetaMask Card in August 2024 and plans to support Bitcoin and Solana. The card aims to solve the "last mile" problem of cryptocurrency payments and promote the mainstream adoption of digital assets. CompoSecure CEO Jon Wilk said that this card is key to transforming cryptocurrency from an investment into everyday currency. The U.S. Securities and Exchange Commission has, in principle, closed its enforcement case against MetaMask and its parent company Consensys. Mastercard is also advancing its Web3 card project to facilitate the integration of digital currencies with traditional financial systems. CompoSecure's stock rose at Monday's opening but was essentially flat at the time of the announcement.

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