Visa Powers Crypto-to-Fiat Withdrawals with Transak Tie-Up

• Visa has doubled down on crypto adoption with a new collaboration.
• The global payments giant partnered with Transak to power crypto-fiat withdrawals.
• The service will be available to users in over 145 countries.

In a strategic move, global payment giant Visa has brought its Visa Direct capabilities to the crypto industry via a collaboration with Transak, enabling users to withdraw cryptocurrencies directly via debit cards.

Transak is a leading payments infrastructure provider for crypto and NFTs , with API-driven solutions that enable Web3 platforms to onboard users from over 150 countries to crypto. Incubated by the Tachyon accelerator program, Transak is backed by reputable VCs like Consensys and Animoca Brands.

Visa Brings Crypto-to-Fiat Conversion to Millions of Users Globally

According to a press release shared with DailyCoin on January 30, the partnership is a revolutionary step that “places crypto-to-fiat conversion at the fingertips of millions of users globally” via Transak’s presence in over 150 leading Web3 platforms, including MetaMask, Ledger, Trust Wallet, and Coinbase Wallet.

Following the collaboration, users in over 145 countries can seamlessly convert their crypto holdings into local fiat currencies without going through centralized exchanges.

North America Head of Visa Direct and Global Ecosystem Readiness, Yanilsa Gonzalez-Ore, lauded the collaboration, noting that it gives crypto users the convenience to spend at over 130 million visa-powered merchant locations in real-time.

Per Transak Co-founder CEO Sami Start, new users “no longer have to walk the treacherous path of compliance uncertainty or face risks of fraud,” as the Transak-Visa collaboration has them “covered for over 40 cryptocurrencies.”

Read how Alchemy Pay integrated Worldpay’s Visa and Mastercard rails:
Alchemy Pay Taps Worldpay’s Visa and Mastercard Payment Rails

Stay updated on Visa’s role in Hong Kong’s CBDC project:
Visa Spearheads CBDC Pilot Program in Hong Kong