Monavate, Baanx, Mastercard, and MetaMask Extend Stablecoin Spend to Canada

Toronto | Cambridge — May 15, 2025

Today at Consensus 2025, Baanx Chief Commercial Officer Simon Jones took the main stage to announce the next step in real-world crypto commerce: Monavate, in partnership with Baanx, Mastercard, and MetaMask, has launched stablecoin card issuing capabilities in Canada.

The partnership enables users to spend USDC directly from their wallets via physical and virtual Mastercard cards—no preloading, no off-ramp delays. Transactions are initiated on-chain and executed at point-of-sale, powered by Baanx’s smart contract stack and Monavate’s issuing infrastructure.

MetaMask—the most widely used self-custody wallet in Web3—is among the first launch partners bringing this to life.

Already live in LATAM, the UK, and the EU, this Canadian expansion is part of Monavate’s global roadmap to empower Web3 companies with the tools they need to offer seamless, real-time card-based spend experiences to their users.

“We’re seeing the promise of crypto finally meet the practicality of payments,” said Scott Lucas, President and Founder of Monavate. “This launch with Baanx and MetaMask is just the beginning. Our stablecoin card issuing capabilities are designed for any Web3 player ready to bring crypto into the real world—securely, compliantly, and at scale. With Mastercard alongside us, we’re unlocking a new era of programmable payments.”

Built on MonavateOne., Monavate’s API-first platform gives FinTech's and Web3 partners everything they need—issuing, processing, compliance, card controls, smart contract compatibility—without the friction of legacy systems.

Canada is live.
The globe is next.
Stablecoins just got swipeable.

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More about Monavate:

Monavate is a Cambridge-based fintech company specialising in cutting-edge payment solutions. Committed to bridging the gap between traditional finance and decentralised technologies, Monavate empowers businesses and consumers with seamless, secure, and innovative payment experiences. Regulated in the UK and Europe, Monavate is an FCA-registered e-money institution and a principal member of Mastercard, Visa, and Discover, providing BIN sponsorship for some of the fastest-growing fintech card programmes.
Founded in 2020, Monavate’s track record speaks for itself:
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• Issued more than 6 million cards on behalf of clients
• ⁠Powered over 410 million transactions
• ⁠Expanded operations across 35 countries
• ⁠Supported 40+ programmes on the platform
• ⁠Settled over £5.75 billion of card payments
• ⁠Opened over 500,000 IBANs