Visa and the cryptocurrency wallet provider Tangem have announced a partnership to launch a new payment card that combines a Visa card with a hardware crypto wallet.
The key features of this new solution are:
Integrated Crypto Wallet and Visa Card
The card embeds a private key within the chip, allowing users to make payments using their crypto or stablecoin balances at any Visa-accepting merchant. This provides the convenience of a regular bank card with the capabilities of a self-custodial crypto wallet.
Self-Custody of Crypto Assets
Unlike traditional custodial solutions, Tangem's card requires the physical card to be used for every transaction, ensuring users maintain exclusive control over their digital assets. This helps address security and regulatory concerns around crypto payments.
Bridging Traditional Finance and Digital Assets
The partnership aims to make it easier for everyday users to leverage the benefits of both traditional banking and digital assets, facilitating mainstream adoption of cryptocurrencies.
Overall, this new Visa-Tangem payment card represents an important step towards integrating cryptocurrencies into the mainstream financial system while prioritizing user control and security.