Leveraging Visa Direct to enable seamless cryptocurrency withdrawals and payments globally, Visa has partnered with Transq. The collaboration enables users to convert over 40 cryptocurrencies directly into fiat currency from wallets like MetaMask, increasing crypto-to-fiat transactions and accelerating mainstream crypto adoption.
Visa recently announced a partnership with leading Web3 infrastructure provider Transc to launch cryptocurrency withdrawals and payments using the Visa Direct solution. This important collaboration aims to enhance the process of converting cryptocurrencies into fiat currency while addressing a significant gap in the crypto market.
Historically, while many platforms have excelled at converting fiat to crypto, the reverse process has often been complex and less optimized. This has left users with limited options for converting their crypto holdings into fiat currency, often resorting to stablecoins or less regulated methods.
Visa’s collaboration with Transac is set to change this scenario. The integration of Visa Direct with Transac’s infrastructure allows card withdrawals in real-time, significantly reducing the time taken to convert crypto balances to fiat. This feature is a marked improvement over traditional banking methods, which can be slow, especially for cross-border transactions.
A key aspect of this partnership is its global reach. The service is available in over 145 countries, making it accessible to a large number of users around the world. Over 40 different cryptocurrencies are supported, allowing a wide range of crypto-to-fiat transactions. This collaboration is not just a technological advancement; This represents a major step towards mainstream acceptance and use of cryptocurrencies.
For users of popular wallets like MetaMask and Trust Wallet, this integration means they can now withdraw funds directly from their Visa debit card, bypassing the need for centralized exchanges. This increases the usefulness and practicality of their digital assets. The ability to quickly and efficiently convert cryptocurrencies into fiat currency is not only a matter of convenience, but an important step toward breaking down the barriers to crypto adoption among the general public.
Ultimately, the partnership between Visa and Transq is a milestone in the crypto industry, bridging the gap between digital and traditional finance. It simplifies the process of converting cryptocurrencies into spendable fiat currency, making it more accessible and practical for everyday use at over 130 million merchant locations where Visa is accepted.
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