Tangem AG, a leading global provider of secure hardware wallet solutions, has announced a strategic partnership with Visa, a world leader in digital payments, to introduce a groundbreaking self-custodial payment solution for hardware wallets. This development allows users to make seamless payments using their crypto or stablecoin balance at any merchant location that accepts Visa.
The new technology, accessible via a Tangem Visa card across Europe, will also be available to other issuers interested in leveraging it for their customers. Unlike traditional custodial solutions that rely on third-party entities to manage user funds, Tangem's card embeds a private key within the chip and necessitates the physical card's use in every transaction. This ensures that users maintain exclusive control over their assets at all times.
Cuy Sheffield, Vice President and Head of Crypto at Visa, remarked, "At Visa, our commitment to security is ingrained in our pursuit to help evolve the crypto ecosystem. With our partnership with Tangem aimed at driving the creation of next-gen payment solutions, we are excited to work with Tangem to help enable effortless payments with digital currencies designed with security in mind."
Andrey Kurennykh, co-founder and CEO of Tangem, expressed his enthusiasm about the partnership, saying, "We are delighted that Visa has chosen to partner with Tangem, one of the most reliable and secure solutions for personal cryptocurrency storage. Our users will get a two-in-one solution – the convenience of a regular bank card and the capabilities of a self-custodial crypto wallet, all in one card. This is a significant step towards bridging the gap between traditional banking and digital assets, making it easier for everyday users to navigate and leverage the benefits of both worlds."
Tangem's self-custodial payment solution represents a significant advancement towards a decentralized future, offering users enhanced security and control over their digital assets. As the technology becomes available, it is poised to make a considerable impact on how everyday users interact with both traditional banking and digital assets.
Tangem Wallet is a card-shaped self-custodial cold wallet that gives users full control of their private keys. The Swiss-based company launched in 2017 with the mission of bringing mass adoption of digital assets through a unique combination of smartcard-based hardware wallets and mobile applications. Since its inception, Tangem has produced over 1,000,000 cards, none of which have been hacked, and its wallet is now available in over 160 countries.
