MetaMask is introducing a crypto payments card for users to spend self-custodied funds, providing more ways to utilize their tokens. The card, supported by Mastercard, is a collaboration with CompoSecure and Baanx. It leverages smart contracts for real-life transactions, processing them in under five seconds on the Linea network, an Ethereum layer-2 scaling solution. Marketed as a safer alternative to centralized exchanges, the card arrives amidst concerns following a $1.4 billion hack on Bybit. MetaMask's entry into the competitive crypto card market challenges major exchanges like Binance and Coinbase. Despite a recent decline in Ethereum ecosystem activity, the payments sector is thriving, with luxury brands and even Signal exploring crypto adoption. The article also touches on a bill in New York aiming to legalize cryptocurrency payments. Overall, the crypto payments landscape is evolving rapidly, offering new opportunities for digital asset utility. Read more AI-generated news on: https://app.chaingpt.org/news

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