Solflare, the gateway to web3 and modern digital finance, partnered with Mastercard (NYSE: MA), in order to launch the Solflare Card, the self-custody debit card on Solana. Linking to users’ Solflare Wallets, the digital card enables users to complete instant debit card payments with USDC while maintaining control of their assets, without “preloading or prior conversion.” The Solflare card will initially be offered to those in the UK and European Economic Area (EEA), before being rolled out in other areas.
Featuring biometric verification, fraud detection mechanism, real-time notifications and 3DS, the Solflare Card is meant “to enable users to spend crypto as fiat, instantly and globally.”
By partnering with Mastercard, the Solflare Card will reportedly “enable seamless stablecoin and crypto transactions at more than 150 million Mastercard-accepting merchants worldwide.”
Filip Dragoslavic, Co-Founder and Co-CEO of Solflare said that crypto is no longer simply “a speculative asset class, and they want their 4 million+ strong community to use crypto in whatever way suits their daily needs”,
With the Solflare Card, they are making it faster, safer, and easier to participate in the crypto economy.
Crypto spending shouldn’t feel “risky or overly complicated.”
The Solflare Card brings control back to users, “with security and simplicity built-in.”
Christian Rau, SVP of Global Partnerships, Digital Assets, Blockchain and Fintech Enablement at Mastercard, has said that Mastercard is committed “to integrating digital currencies into the broader payments ecosystem.”
By working with partners like Solflare, they further that mission and empower users through “access to their crypto assets – bridging the gap between digital asset ecosystem and payments.”
The Solflare Card is linked to users’ non-custodial Solflare wallet, “meaning users maintain control of their private keys while Solflare manages the rails.”
This keeps users’ private keys secure, “never exposed or transferred, while each transaction is signed directly (with the user’s approval) on the card, supported by three-factor authentication, including biometric verification, a PIN, and the physical card itself.”
Upon launch, Solflare cards are compatible “with Google Pay, with Apple Pay coming soon, for contactless payments.”
Vidor Gencel, Co-Founder and Co-CEO of Solflare, added that with more than 115K of their community members signed up for the Solflare Card, they are finally launching crypto debit cards.
They added that facilitating instant off-ramping of crypto assets via a debit card represents a “paradigm shift in how the industry will be viewed by skeptics.”
Protected by security measures, like biometrics, fraud detection mechanisms, real-time notifications, and 3DS, Solflare Cards “embody crypto’s tonal shift – from speculative asset to everyday currency.”
As noted in the update, Solflare is the gateway to the so-called next era of finance. A financial suite, Solflare allows for user-driven finance.
Aiming to grant financial independence, Solflare is the gateway to the digital economy, enabling consumers who want a unified experience on crypto rails.
Non-custodial and “optimized” for performance, Solflare gives consumers with the foundation to trade, stake, and spend – facilitating “financial autonomy.”
Solflare has reportedly amassed more than 4 million monthly active users and a strong community since its launch back in 2021, solidifying its role as a key player offering financial products and provider of value at the core of the Solana ecosystem.
