Get ready to spend your crypto like cash! Crypto wallet company Tangem is partnering with Visa to launch a revolutionary product: a crypto wallet that doubles as a Visa payment card. Expected by the end of 2024, this innovation aims to bridge the gap between traditional finance and the world of digital assets.
The key feature here is Tangem Pay. This technology, certified by Visa in 2022, allows users to spend their crypto directly from their Tangem wallet at any store that accepts Visa payments, online or in person. The convenience of a regular debit card, but with the control and security of a self-custodial crypto wallet.
Tangem's vision is much bigger. They plan to create a platform where other crypto wallets can issue similar cards under their own brand. This could potentially open the door for banks to offer crypto solutions to their customers, and even for blockchains to become platforms for everyday payments.
Security remains a top priority. While Tangem wallets are self-custodial (meaning you control your own crypto), Tangem Pay uses a smart contract for the card itself and doesn't require a seed phrase. This provides an extra layer of protection in case you lose your card.
The initial launch will focus on Tether, a popular cryptocurrency, on the Polygon network. But Tangem promises to expand its offerings in the future.
This collaboration between Tangem and Visa is a significant step forward for cryptocurrency adoption. With the ease of a regular payment card, users will be able to seamlessly integrate crypto into their daily lives. So, get ready to ditch the exchange and start spending your crypto with just a swipe!
You can purchase a Tangem wallet from their official website.
