Visa enables crypto withdrawals on debit cards in 145 countries

MetaMask users can now sell crypto directly to a Visa card, which eliminates the need to use centralized exchanges.

Global payment giant Visa is doubling down on cryptocurrency adoption by enabling another method to exchange crypto to fiat currencies without using a centralized exchange.

Visa has partnered with the Web3 infrastructure provider Transak to introduce cryptocurrency withdrawals and payments through the Visa Direct solution, the firms announced on Jan. 30.

The new integration allows users to withdraw cryptocurrencies like Bitcoin 

BTC



$43,507

 directly from a wallet like MetaMask to a Visa debit card. Available immediately, the integration enables one to exchange crypto to fiat and pay at 130 million merchant locations where Visa is accepted.

“By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat,” Visa Direct’s North America Head Yanilsa Gonzalez-Ore said.

The collaboration significantly expands the number of options to convert crypto into fiat currencies and brings a big milestone in bridging the crypto and traditional finance worlds, Transak’s marketing head and investor relations lead Harshit Gangwar noted.

The partnership allows users from 145 countries to directly convert at least 40 cryptocurrencies to fiat without relying on centralized exchanges. Some of the supported countries include jurisdictions like ​​Cyprus, Malta, Singapore, Turkey, Portugal and the United Arab Emirates, according to Transak's global coverage page.