This collaboration integrates a Visa payment card with Tangem's hardware wallet technology, allowing users to conduct payments using their crypto or stablecoin balances at Visa-accepting merchants. When compared to traditional custodial solutions, Tangem's card embeds a private key within the chip, ensuring users maintain control over their assets with every transaction.
In the official press release, Visa representatives emphasised the partnership's focus on advancing secure digital payment solutions. In turn, officials from Tangem highlighted the convenience and security benefits of this combined solution, positioning it as a bridge between traditional banking and digital assets.
Tangem, founded in 2017 and based in Switzerland, aims to promote the mass adoption of digital assets through its smartcard-based hardware wallet technology. The company's products support storage, transactions, and management of various cryptocurrencies and digital assets. Tangem has established a presence in more than 160 countries, with ongoing efforts to enter new markets.
The company launched its bank card-shaped hardware wallet in 2021 with the aim of introducing a new concept of a seedless self-custodial multi-currency wallet. The wallet allows users to store, buy, earn, transfer, and swap thousands of cryptocurrencies and digital assets. When it comes to security, the wallets rely on a mix of biometric security and access code protection to prevent unwanted access and keep users' funds secure.
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