Visa has partnered with Web3 infrastructure provider Transak to launch a novel method for exchanging crypto for fiat currencies.
The collaboration allows crypto withdrawals and payments via the Visa Direct solution, enabling users to seamlessly convert crypto from wallets like MetaMask to a Visa debit card.
The integration opens up a world of possibilities for users, allowing them to exchange crypto for fiat and make payments at over 130 million merchant locations where Visa is accepted worldwide.
Yanilsa Gonzalez-Ore, Head of North America at Visa Direct, expressed her excitement about the collaboration. She said, “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.”
Moreover, the collaboration is a step toward bridging the worlds of crypto and traditional finance, providing users in 145 countries with a direct and efficient way to convert at least 40 crypto to fiat without relying on centralized exchanges.
Harshit Gangwar, Transak’s marketing head, and investor relations lead, emphasized the collaboration’s impact, saying, “This is a major step towards mainstream acceptance and utilization of cryptocurrencies.”
The integration is intended to make crypto transactions more accessible and convenient for users worldwide.
Gangwar emphasized the specific advantages for users of decentralized platforms and wallets like MetaMask, Ledger, and Trust Wallet.
“MetaMask users can now effortlessly off-ramp directly from their wallet to the Visa card, which enhances the usability and practicality of their digital assets,” he said.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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