Tangem Launches Crypto Wallet Integrated with Visa for Secure Payment Solutions

Tangem, a cryptocurrency wallet company, has teamed up with Visa to combine self-custody and mainstream payments. On July 4, Tangem announced that it will be introducing a new hardware wallet technology integrated with Visa payment cards. The new product, called Tangem Pay, is a business-to-consumer (B2C) solution that allows users to spend crypto directly from their self-custodial wallet through merchants’ payment terminals or online payment tools. Tangem received certification from Visa for this payment technology in February 2022. Tangem co-founder Andrey Kurennykh stated that Tangem Pay offers users the convenience of a regular bank card and the capabilities of a self-custodial crypto wallet in one card. The wallet solution is self-custodial and can function with or without a seed phrase, while Tangem Pay is based on a smart contract and comes with one card without a seed phrase. Tangem plans to launch Tangem Pay as a standard Web3 service, available to users of any wallet. The firm is also developing a software-as-a-service solution that will allow any wallet to issue cards under their own brand. Tangem aims to enable banks to add crypto solutions to their product lines and allow blockchains to become platforms for payments. Tangem Pay can be connected to any wallet, such as MetaMask, Ledger, and Trust Wallet, and users can still access their accounts through the main wallet interface if the Tangem Pay card is lost or damaged. The new Tangem wallet will initially support Tether (USDT) on the Polygon network, but there are no limitations on the cryptocurrencies that will be supported in the future. Tangem currently supports at least 59 networks, including Bitcoin and Ethereum. Visa’s head of crypto, Cuy Sheffield, emphasized the importance of the collaboration with Tangem for the future of payments. Tangem Wallet, launched in 2021, is a card-shaped self-custodial cold wallet that allows users to store cryptocurrencies like Bitcoin using both seed and seedless wallet activation. The wallet has been successful, with over one million cards produced and availability in at least 160 countries. Tangem plans to expand to new jurisdictions in the future. A self-custodial wallet is a type of wallet that allows users to store cryptocurrencies without any intermediary, giving them full control over their crypto assets.