Welcome to This Week in Crypto, where we bring you the latest highlights from the world of cryptocurrency. This week, MetaMask takes a bold step by launching a self-custody debit card in partnership with Mastercard, allowing users to spend crypto directly from their wallets. Meanwhile, USDC is set to make tap-and-go payments a reality on iPhones, thanks to Apple opening up its NFC technology to third-party developers. And in a generous move, Ethereum co-founder Vitalik Buterin donates over $500,000 in animal-themed meme coins to a charity focused on animal welfare. Here’s everything you need to know in crypto!
MetaMask, Mastercard Debut Self-Custody Debit Card
MetaMask has launched a pilot program for a self-custody debit card in partnership with Mastercard and digital payments company Baanx. This new card allows users in the UK and EU to make everyday purchases directly from their MetaMask wallets using crypto. The card offers a seamless experience by converting crypto to fiat currency at the moment of transaction, eliminating the need for a bank account. This development aims to simplify the process of spending cryptocurrency and could potentially increase its adoption as a practical currency for daily use.
The MetaMask Card differs from traditional prepaid crypto cards by allowing users to maintain control of their funds until the exact moment of payment. The program leverages Mastercard’s global network and the security of MetaMask and Linea to ensure transactions are secure and efficient. While currently limited to European markets, the initiative has the potential to bring banking services to unbanked populations. This pilot marks a significant step toward mainstream crypto adoption.
USDC Tap-and-Go Payments Coming Soon to iPhones
Circle, the company behind the stablecoin USDC, is set to bring tap-to-pay to iPhones following Apple’s decision to allow third-party developers access to its NFC chip. This move will enable users to make payments using USDC directly from their iPhones, a feature previously restricted to Apple’s own Wallet app and Apple Pay. Jeremy Allaire, Circle’s CEO, announced the development on August 14, signaling a significant step forward in integrating blockchain-based payments into mainstream mobile technology.
With this new functionality, iPhone users will soon be able to use USDC for direct payments at retail outlets by simply tapping their phones. The process will involve the point-of-sale system communicating with the iPhone to specify the blockchain address and payment amount. The transaction will then be confirmed using FaceID and processed over the blockchain. This development also opens the door for other applications beyond USDC, including NFTs, other stablecoins, and digital certificates, potentially revolutionizing how payments and digital assets are managed on mobile devices.
Vitalik Buterin Donates $500K in Meme Coins to Charity
Vitalik Buterin, co-founder of Ethereum, has donated over $500,000 worth of Ethereum (ETH) to a charity focused on animal welfare. The donation was made to the Effective Altruism Funds’ Animal Welfare Fund and was funded by selling off a collection of animal-themed meme coins that had been sent to his wallet over the past year. Buterin, who has previously expressed frustration with unsolicited crypto transfers, urged the crypto community to send such tokens directly to charities instead of his wallet.
Buterin’s gesture highlights his ongoing commitment to using his influence and resources for charitable causes. In the past, he has donated large sums to other charitable efforts, such as COVID-19 relief in India. While grateful that the funds could be put to good use, Buterin reiterated that he would prefer if the crypto community stopped sending him tokens altogether, suggesting that the donations be made directly to charities from the outset.
