Global payments infrastructure platform Mercuryo has launched Spend, a new crypto debit card powered by the Mastercard network.
Available through Ledger Live, the app to “securely” manage crypto and NFTs, Ledger users can now “use the Spend debit card to make purchases using their digital tokens.”
Users’ holdings are converted “from crypto to fiat and can be funded directly from self-custody.”
The Spend card, which can be opened instantly and fee-free in the Ledger Live App, provides Ledger users with the “ability to use their digital token holdings to fund fiat purchases across more than 150 million merchants around the world where Mastercard is accepted.”
At launch, the Spend card will be available for BTC (Bitcoin) and ETH (Ethereum), “with stablecoins and additional digital tokens to be added in the coming months.”
The launch of the Spend card represents an “evolution of the Web3 space, as people increasingly demand solutions that allow them to use their digital assets for payments as easily and securely as traditional debit or credit cards.”
Spend, which is compatible with Apple Pay or Google Pay, “can be used seamlessly online and in-store.”
Spend’s addition to Ledger Live will enable users of the hardware wallet to fund their accounts at a “transparent cost while also benefiting from its security.”
Ledger customers making a purchase with Spend will “benefit from Mastercard’s consumer protections including AML and KYC protocols.”
Petr Kozyakov, Co-Founder and CEO at Mercuryo said:
“We are delighted to launch Spend in Ledger, the preeminent non-custodial hardware wallet that has won a huge cult-like following among crypto enthusiasts, having made self-custody both accessible – and cool. Ledger, Mercuryo and Mastercard share the same vision of using state-of-the-art technology to deliver a seamless user experience, making this partnership a perfect fit.”
Jean-Francois Rochet, Executive Vice President of Consumer Services at Ledger said:
“We are happy to see Mercuryo join the family of card programs compatible with Ledger, directly available and securely manageable from within Ledger Live. This is the second service provided by Mercuryo to Ledger Live users, after crypto purchase services. Card programs that offer the ability to integrate directly with self-custody give users the best possible experience. The Spend card, paired with the power of Mastercard’s global payments network, will bring Ledger users more choice to spend their crypto.”
Spend, which is currently available to users in the European Economic Area (EEA), levies several benefits such “as an optimal user experience and spending control, along with flexible limits.”
The monthly spending limit for Spend is €40,000.
Mercuryo claims that it is a first-mover and innovator in the fast-evolving Web3 space, providing “a variety of payment solutions along with seamless on-chain integration.”
Mercuryo’s solutions are said to be “simplifying the experience for newcomers to the digital token space.”
Mercuryo explains that it “specializes in efficient capital flow in the DeFi ecosystem and combines various payment solutions into a single interface.”