Tangem, a leader in self-custodial crypto wallets, has announced a groundbreaking partnership with Visa, integrating Visa payment capabilities directly into their hardware wallets. This innovation, dubbed Tangem Pay, enables users to make crypto payments effortlessly at any merchant accepting Visa, whether through physical terminals or online platforms.
Visa Certification and Launch Timeline
Certified by Visa in February 2022, Tangem Pay combines the security of self-custody with the convenience of traditional payment methods. Andrey Lazutkin, Tangem’s CTO, highlighted that users would enjoy the dual benefits of a regular bank card and a self-custodial wallet in a single card. The product is set to launch under the Tangem brand by the end of the year.
A Unique Self-Custodial Solution
Tangem Pay distinguishes itself with a smart contract-based system, eliminating the need for a seed phrase. This feature ensures users have a secure yet user-friendly experience. Additionally, Tangem plans to extend this solution beyond its ecosystem, allowing any wallet, including popular ones like MetaMask and Ledger, to integrate Tangem Pay.
Future Integration and Cryptocurrency Support
Initially, Tangem Pay will support Tether (USDT) on the Polygon network, with plans to expand to other cryptocurrencies. Tangem’s platform, currently supporting 59 networks, aims to make crypto payments universally accessible and practical.
Tangem’s Market Reach
Since its inception in 2021, Tangem Wallets have gained significant traction, with over one million cards produced and availability in 160 countries. This new Visa-integrated solution marks a significant step towards mainstream crypto adoption, merging traditional banking services with digital asset management.
Visa’s Vision for the Future
Cuy Sheffield, Visa’s head of crypto, expressed excitement about the partnership with Tangem, emphasizing its importance for the evolution of payment systems. This collaboration is expected to pave the way for more secure and efficient crypto transactions, aligning with Visa’s vision of seamless digital payments.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
