Hardware wallet giant Tangem and leading card system Visa shared details of their most advanced integration so far. The collaboration is designed to blur the line between crypto and fiat payments as well as between Web2 and Web3 B2C economic designs.
Visa, Tangem announce holistic integration between hardware wallet and credit card
Tangem, a top-tier hardware wallet producer, announced a new phase of collaboration with Visa card system. Tangem unveils a Web3 platform for decentralized payments, integrated with the payments heavyweight.
VISA // Tangem Crypto Wallet App"Bridging traditional banking and digital assets.." https://t.co/HKrCesZi9R pic.twitter.com/JlBxAvlUaU
— Chad Steingraber (@ChadSteingraber) July 5, 2024
As explained by Tangem CTO Andrey Lazutkin, customers of hardware wallets are now able to leverage their crypto holdings in daily transfers in a seamless manner:
Users of any wallet can open a decentralized account and get a non-custodial card to manage it and make transactions
While the exact timeline of the product release is yet to be announced, the product is expected to arrive by the end of 2024. Thanks to the active patent approved by Visa for a period until 2030, the new wallet technology will work under the Tangem brand.
As covered by U.Today previously, starting from Q4, 2023, Visa was advancing its stablecoin settlements infrastructure across Ethereum (ETH) and Solana (SOL) blockchains.
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USDC by Circle, the second largest stablecoin by market cap, was the backbone element of this cross-border money transfer architecture.
Crypto payments become available at any Visa-enabled POS
Visa's crypto head Cuy Sheffield is excited by the importance of the fresh collaboration with Tangem for Web3 ambitions of his platform:
We are excited to partner with to enable a new product that provides the convenience of a Visa card integrated into a hardware wallet that can be used to spend crypto or stablecoin balances at any merchant that accepts Visa
Technically, payments will be facilitated through the merchants' infrastructure of both offline and online points of service.
As such, holders of 50+ cryptocurrencies supported by Tangem will be able to spend their crypto directly through specific Visa cards just like they used to with regular ones issued by banks.