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MetaMask launches pilot self-custody debit card with Mastercard

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MetaMask, one of the leading cryptocurrency wallets, has launched a pilot program for a new self-custody debit card in collaboration with Mastercard. This innovative card allows users to spend their crypto assets directly from their MetaMask wallets, combining the flexibility of digital currencies with the convenience of traditional debit cards.

The pilot program is set to roll out in select regions, offering users the ability to make purchases and pay bills using their crypto holdings, all while maintaining full control over their assets. Unlike traditional debit cards, which are linked to bank accounts, the MetaMask debit card is directly connected to users’ self-custody wallets, ensuring that they retain ownership of their funds without relying on third-party custodians.

This partnership with Mastercard marks a significant step forward in making cryptocurrency more accessible and usable for everyday transactions. By integrating with one of the world’s largest payment networks, MetaMask aims to bridge the gap between decentralized finance (DeFi) and traditional financial systems, bringing the benefits of crypto to a wider audience.

MetaMask’s self-custody debit card is part of a broader trend towards enhancing the utility of digital assets, making it easier for users to integrate crypto into their daily lives. As more consumers seek ways to leverage their crypto holdings, the introduction of such payment solutions could play a crucial role in driving mainstream adoption.

The pilot program will initially be available to a limited number of users, with plans for a broader rollout based on user feedback and demand. If successful, the MetaMask debit card could become a game-changer in the crypto payment landscape, offering a seamless way for users to spend their digital assets securely and efficiently.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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