Mercuryo launches Spend, a virtual Mastercard that lets users pay with non-custodial crypto

Crypto payments infrastructure platform Mercuryo has launched Spend in Europe — enabling users to create a virtual debit card via their non-custodial wallets to pay using 40 cryptocurrencies at over 100 million merchants in the Mastercard network.

The euro-denominated Mastercards, issued by Quicko, are designed to bridge the gap between self-custodial crypto wallets and traditional payment methods.

Spend provides digital asset holders with a widely accepted payment card that Mercuryo claims can be opened in minutes and integrated with Apple Pay or Google Pay, with the funds automatically converted into fiat for merchants.

Spend can be directly embedded within non-custodial wallet provider applications as a “plug-and-play” solution, providing the same level of protection as traditional debit cards. However, it requires additional KYC and AML verification procedures.

“At Mercuryo, our vision is to bridge the gap between web3 and the world of fiat transactions,” Mercuryo co-founder and CEO Petr Kozyakov said in a statement. “This product is not just a card; it’s a step towards a future where digital tokens can be spent in a highly accessible and commonplace way, much the same as fiat.” 

Spend is currently available to users in the European Economic Area, incurring a €1.60 ($1.78) issuance fee and a €1 ($1.11) monthly maintenance fee with a spending limit of €40,000 ($44,393) per month. Mercuryo also plans to roll out Spend in other regions globally.