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Tangem and Visa to Revolutionize Crypto Payments


category: Crypto

In an exciting development for cryptocurrency users, Tangem, a leading provider of hardware wallet solutions, has partnered with global payments giant Visa to create a groundbreaking new product. This collaboration aims to bridge the gap between traditional finance and the world of digital assets, making crypto payments more accessible and secure than ever before.

What's New?

Tangem and Visa are set to launch a unique device that combines two essential financial tools:

1. A Visa payment card

2. A hardware cryptocurrency wallet

This innovative product will allow users to make payments using their cryptocurrency or stablecoin balances at any merchant that accepts Visa. The best part? It all happens through a single, convenient card-shaped device.

How It Works

The new Tangem Visa card is designed with security and user control in mind:

- It embeds a private key within the chip

- Every transaction requires the physical card to be present

- Users maintain full control of their assets without relying on third parties

This approach differs from traditional custodial solutions, where external entities manage user funds. With Tangem's solution, meaning you're always in charge of your crypto.

Availability and Future Plans

The new Tangem Visa card is expected to launch by the end of 2024. Initially, it will be available in various European locations. Tangem also plans to make this technology available to other issuers, potentially expanding its reach even further.

Why It Matters

This partnership represents a significant step forward in making cryptocurrency more practical for everyday use.

Andrey Kurennykh, co-founder and CEO of Tangem, explains:

"Our users will get a two-in-one solution — the convenience of a regular bank card and the capabilities of a self-custodial crypto wallet, all in one card. This is a significant step towards bridging the gap between traditional banking and digital assets, making it easier for everyday users to navigate and leverage the benefits of both worlds."

Visa's Perspective

Cuy Sheffield, Vice President and Head of Crypto at Visa, emphasized the company's commitment to security in the evolving crypto ecosystem. He expressed excitement about working with Tangem to enable effortless payments with digital currencies designed with security in mind.

The Bigger Picture

This collaboration between Tangem and Visa comes at a crucial time for the cryptocurrency industry. As the sector continues to mature, there's an increasing focus on regulation, usability, and mainstream acceptance. Tangem's new product addresses these concerns by offering a secure, user-friendly solution that combines the benefits of traditional banking with the innovative potential of digital assets.

The partnership between Tangem and Visa represents an exciting step forward in the evolution of cryptocurrency payments. By combining the security of a hardware wallet with the convenience of a Visa card, this new product has the potential to make crypto transactions more accessible and practical for everyday users.

The information is based on the author's own research and opinions. The information is not guaranteed to be accurate or up-to-date. The author is not a financial advisor and is not qualified to give financial advice.

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