Zurich, Switzerland, July 05, 2024 (GLOBE NEWSWIRE) -- Tangem AG, the leading global provider of secure hardware wallet solutions, is thrilled to announce a partnership with Visa, a world leader in digital payments, to enable an innovative self-custodial payment solution for hardware wallets.
This important development introduces a Visa payment card that is combined with a hardware wallet that empowers Tangem users to make seamless payments using their crypto or stablecoin balance at Visa-accepting merchant location. This technology will be accessible via a Tangem Visa card across Europe. Tangem will also make this technology available to other issuers who are interested in leveraging it for their own customers.
Unlike traditional custodial solutions, which depend on third-party entities to handle user funds, Tangem's card embeds a private key within the chip and requires the physical card's use in every transaction. This helps ensure that users can maintain exclusive control over their assets at all times.
Cuy Sheffield, Vice President, Head of Crypto, Visa, comments: “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: “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 brings us one step closer to a decentralized future.
Stay tuned for further updates on its release and availability.
About Tangem
Tangem Wallet is a card-shaped self-custodial cold wallet that gives you full control of your private keys. The Swiss-based company launched in 2017 with a mission of bringing mass adoption of digital assets using a unique combination of a smartcard-based hardware wallet and mobile applications.
The company launched its bank card-shaped hardware wallet in 2021, introducing an innovative concept of a seedless self-custodial multi-currency wallet. The wallet allows users to store, buy, earn, transfer, and swap over 6,000 cryptocurrencies and digital assets.
Since its launch, Tangem has produced over 1,000,000 cards and none have been hacked. The Tangem wallet is currently available in 160+ countries and expanding to new jurisdictions in future.
