Crypto: Visa simplifies transactions in 145 countries

Online payment giant Visa has once again made headlines. Through a strategic alliance with Transak, the platform has made crypto withdrawals accessible via debit card. This development, which highlights Visa’s commitment to promoting the industry, involves 145 countries.

A collaboration between Visa and Transak that promotes crypto adoption…

As part of a significant move towards crypto adoption, Visa and Transak have partnered to facilitate the exchange of cryptos into fiat currencies. This historic development involves 145 countries around the globe.

Thanks to Visa Direct, users can now quickly convert their crypto holdings into local fiat currencies. These funds can then be used at over 130 million merchants worldwide.

This collaboration not only streamlines the process of converting crypto into fiat currency. It also marks a crucial step in narrowing the gap between traditional finance and the burgeoning crypto market.

Leveraging the extensive reach of Visa and Transak’s robust infrastructure, users now have immediate access to their funds, bypassing the often lengthy delays associated with traditional banking systems. This could boost the adoption of cryptos.

"Discover how Transak's partnership with Visa enables rapid crypto to fiat conversion in 145 nations, empowering users to seamlessly exchange crypto holdings into local fiat currencies. Read more:https://t.co/i2HUwMA3xm"

— Bony Bean (@bonybean) January 30, 2024

But not necessarily good news for exchanges

It must be said that this partnership opens up new horizons for MetaMask users around the world. Indeed, they can now use their crypto assets in a much easier and more convenient manner.

Indeed, the integration facilitated by Visa and Transak not only improves the ease of use of digital assets. But it also emphasizes Visa’s commitment to exploring innovative payment solutions in the cryptographic landscape.

However, there is a small hitch; the initiative might not be good news for crypto exchanges. Because the initiative allows MetaMask users to sell their cryptos directly to a Visa debit card, it eliminates the need for intermediaries such as exchanges.

Speaking on this development, Harshit Gangwar, marketing head at Transak, highlighted the global impact of this partnership. It should enable users from various jurisdictions to seamlessly convert over 40 cryptos into fiat currency.