Transak and Visa have partnered to simplify crypto-to-fiat conversions, allowing users in 145 countries to sell digital assets for fiat through Visa Direct’s real-time push payments.
This collaboration provides access to Visa‘s network for over 350 digital wallets using Transak’s infrastructure, including MetaMask and TrustWallet. Sami Start, Transak’s CEO, highlighted the convenience for users, emphasizing the real-time and secure conversion of over 40 cryptocurrencies.
After conversion, users can spend their fiat at 130 million global merchants accepting Visa, addressing a challenge in mainstream crypto adoption.
Both Visa and Mastercard actively support the crypto ecosystem, exploring solutions to bridge the gap between fiat and digital assets.
Visa has utilized USDC on the Ethereum and Solana blockchains for settling fiat currency payments over VisaNet. The CEO of Visa envisions a “meaningful” future for stablecoins and central bank digital currencies.
In its annual report, Visa identifies “Digital Wallet Providers” and “Alternative Payments Providers” as competitors in its business landscape.
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