MetaMask is introducing a crypto payments card that enables users to spend self-custodied funds, expanding the options for cryptocurrency holders. This new card, which will be backed by Mastercard, is being developed in collaboration with CompoSecure and Baanx. It will utilize smart contracts for real-life transactions, boasting a processing speed under five seconds and functioning on the Linea network, a layer-2 scaling solution on Ethereum. The card offers an alternative to centralized exchanges, which pose potential risks. Despite its promise, MetaMask faces fierce competition as major exchanges like Binance, Bybit, Coinbase, and Crypto.com already have similar crypto debit cards, some with crypto-back rewards. Additionally, MetaMask's recent performance reflects reduced interest in the Ethereum ecosystem, with its fees collected significantly dropping from the previous year. Payments are increasingly becoming a primary use case for cryptocurrencies, with various brands and platforms exploring crypto transactions.

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