Points
- TangemandVisacollaboratetointroduceanewcryptocurrencyhardwarewallet.
- Thewallet,TangemPay,combinesVisa’spaymentnetworkwithTangem’sself-custodialtechnology.
- Theproductaimstobridgethegapbetweentraditionalbankinganddigitalassets.
- Expectedlaunchbytheendoftheyearwithpotentialmarketexpansion.
Visa and cryptocurrency wallet startup Tangem are working together to integrateself-custodyand traditional payment methods with the introduction of hardware wallettechnology.
InnovativePaymentTechnology
As per the announcement made on July4,their partnership is to introduce a new cryptocurrency hardware wallettechnology.Thiscutting-edgedevice combinesVisa’spayment network withTangem’sself-custodialwallet.
According to Tangem Chief Technology Officer（CTO）AndreyLazutkin,the newbusiness-to-consumer（B2C）product will be sold under the Tangem name and should be available byyear’send.Lazutkinadded,“Wereceived certification from Visa and a patent for thetechnology,and now we have developed a product that we will soon be ready to present to theworld.”
TangemPay:BridgingFinancialWorlds
Tangem’supcoming new cryptowallet,TangemPay,introduces acutting-edgepayment technology that enables users to spend cryptocurrency directly from theirself-custodialwallet throughmerchants’payment terminals or online paymenttools.
Tangem’sco-founderAndrey Kurennykh highlighted the transformative nature of their newproduct,stating,“Ourusers will get atwo-in-onesolution—the convenience of a regular bank card and the capabilities of aself-custodialcryptowallet,all in onecard.”
He emphasized that this development is a crucial step towards bridging the gap between traditional banking and digitalassets,simplifying the process for everyday users to benefit from both financialworlds.
FutureDevelopmentsandMarketExpansion
Atfirst,Tangem intends to introduce aB2Csolution as a“standardWeb3service”accessible to users of anywallet,not justTangem,by the end of theyear.
Tangem is developing asoftware-as-a-service（SaaS）platform that will enable banks and blockchain platforms to issue brandedcards.This platform aims to facilitate the integration of crypto solutions intobanks’product lines and transform blockchains into paymentplatforms.
ImpactontheCryptoandFinanceIndustry
This partnership has the potential to have a big influence on both traditional financial systems and the larger cryptocurrency industry by making cryptocurrency payments simpler and moresecure.The adoption and use of digital currencies in regular transactions may increase as a result of thisintegration.
A Tangem Wallet set includes up to three identicalcards,allowing multiple access points to onewallet,as per a spokesperson forTangem.Notably,80%of users activated their wallets without seedphrases,usingTangem’ssmart backup technology for enhanced security andconvenience.
Visa’shead ofcrypto,CuySheffield,highlighted,“Withour partnership with Tangem aimed at driving the creation ofnext-genpaymentsolutions,we are excited to work with Tangem to help enable effortless payments with digital currencies designed with security inmind.”
Tangem’sSaaSPlatform
This collaboration between Tangem and Visa represents a significant advancement in the financialindustry,positioning Tangem as a key player in merging traditional and digital financialsystems.The SaaS platform under development will enable seamless integration of crypto solutions into traditional bankingproducts,providing a unified and secure paymentecosystem.
解説
- TangemandVisa’scollaborationmarksasignificantsteptowardsintegratingtraditionalbankingwithcryptocurrencysolutions.
- TheintroductionofTangemPay,ahardwarewalletcombiningself-custodyandtraditionalpaymentnetworks,offersauniquevaluepropositionforusers.
- TheSaaSplatformunderdevelopmentbyTangemwillallowbanksandblockchainplatformstoissuebrandedcards,facilitatingbroaderadoptionofcryptopayments.
- Thispartnershipcouldleadtoincreasedmainstreamacceptanceanduseofdigitalcurrenciesineverydaytransactions,enhancingtheoverallcryptocurrencyecosystem.