MasterCard Partners With Crypto Exchange ‘Hi’ to Launch World’s First NFT Customizable Debit Cards

The global credit card company Mastercard has teamed up with the European cryptocurrency exchange ‘hi’ to launch customizable non-fungible token (NFT) debit cards. The avatar artwork may now be added to cards by users who own NFTs from select blue chip collections.

With this recent partnership with the European CEW, ‘Hi’, Mastercard will now provide a number of payment cards with NFT themes; thus, holders of select top-tier NFTs are given the opportunity to showcase their favorite collectibles in all of their non-fungible glory.

“Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world,” says Sean Rach, Co-founder of Hi. “The flexibility to spend fiat, stablecoins or other cryptos, combined with attractive financial and lifestyle rewards, makes us confident that our card is a game-changer in the market.”

Only Gold members of the platform will have access to the NFT debit cards. Users must invest at least 100,000 hi dollars (HI), the platform's native token, valued at around $4,900 at the time of writing. Prior to receiving their personalized debit cards, Gold members must additionally go through a verification procedure to demonstrate that they are the owners of the NFTs.

Also, only NFTs from certain collections will initially be accepted. The collections include CryptoPunks, Goblintown, Moonbirds, Bored Ape Yacht Club, and Azuki.

In addition to the artwork on the card, users may use the debit cards wherever Mastercard is accepted to make transactions in fiat, stablecoins, or cryptocurrency. Additionally, cardholders will receive benefits including cashback bonuses, hotel credits, and discounts on Spotify and Netflix subscriptions.

According to Christian Rau, vice president of crypto and fintech enablement at Mastercard, consumer interest in NFTs and cryptocurrencies is growing. The firm is dedicated to making cryptocurrencies an accessible payment option for those who want to use them. Currently, only the UK and 25 member states of the European Economic Area (EEA) provide the cards.

“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payments choice for the communities who wish to use them. We are proud to be working with hi to continue to drive innovation in the market and enable these customizable cards together with the safety and security you’d expect from Mastercard,” says Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard.

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