Visa and Tangem have announced a strategic partnership to create a self-custodial payment system for hardware wallets. This collaboration aims to bridge the gap between traditional banking and digital assets, offering users enhanced security and control over their cryptocurrency transactions.
Points
- Strategic partnership between Visa and Tangem.
- Creation of a self-custodial payment system for hardware wallets.
- Enhanced security and user control over cryptocurrency transactions.
- Bridging traditional banking with digital assets.
Tangem, a leading producer of secure hardware wallet solutions, has announced a strategic agreement with Visa to create a self-custodial payment system for hardware wallets. This collaboration seeks to launch a Visa payment card integrated with a hardware wallet, allowing Tangem customers to pay with their cryptocurrency or stablecoin balance at any merchant location that accepts Visa.
Tangem and Visa Team Up
Tangem Visa cards will provide access to breakthrough technology throughout Europe. Unlike typical custodial solutions, which rely on third-party corporations to maintain user funds, Tangem’s card contains a private key embedded in the chip, necessitating the usage of the physical card for each transaction. This approach aims to improve user control, enhance security, and provide better transaction outcomes.
TradFi and DeFi Together
People will be able to gain advantages from both traditional finance （TradFi） and decentralized finance （DeFi）. This collaboration aims to close the gap between traditional banking and digital assets, offering users the convenience of a regular bank card and the capabilities of a self-custodial cryptocurrency wallet.
Visa and Crypto: A Long-Term Vision
Andrey Kurennykh, Tangem’s co-founder and CEO, emphasized the significance of this development, saying, “Our users will get a two-in-one solution — the convenience of a regular bank card and the capabilities of a self-custodial cryptocurrency wallet.” This partnership is a key step toward integrating traditional banking with digital assets, enhancing user experience, and promoting wider adoption of cryptocurrencies.
Conclusion
The partnership between Visa and Tangem represents a significant advancement in bridging the gap between traditional banking and digital assets. By creating a self-custodial payment system for hardware wallets, this collaboration aims to offer users enhanced security and control over their cryptocurrency transactions, promoting wider adoption and integration of digital assets into everyday financial activities.
解説
- Strategic Partnership: Visa and Tangem’s collaboration to integrate digital assets with traditional banking.
- Self-Custodial Payment System: Enhanced security and user control with Tangem Visa cards.
- TradFi and DeFi Integration: Offering the convenience of a bank card with cryptocurrency wallet capabilities.
- Long-Term Vision: Promoting wider adoption and seamless integration of digital assets.