Mercuryo Launches Spend in Europe

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

The euro-denominated Mastercards, issued by Quicko, aim to connect self-custodial crypto wallets with traditional payment methods.

Spend offers digital asset holders a widely accepted payment card that Mercuryo claims can be set up in minutes. It integrates with Apple Pay or Google Pay, with funds automatically converted to fiat for merchants.

Spend can be embedded within non-custodial wallet provider applications as a “plug-and-play” solution, providing the same protection as conventional debit cards, though it necessitates additional KYC and AML verification.

“At Mercuryo, our vision is to bridge the gap between web3 and the world of fiat transactions,” said Mercuryo co-founder and CEO Petr Kozyakov. “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 like fiat.”

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