Tangem Partners with Visa to Launch Crypto Visa Payment Card with Embedded Hardware Wallet

Tangem AG, a leading global provider of secure hardware wallet solutions, has announced a partnership with Visa to introduce an innovative self-custodial payment solution for hardware wallets. This collaboration aims to launch a Visa payment card that integrates a hardware wallet, allowing Tangem users to make seamless payments using their crypto or stablecoin balance at any Visa-accepting merchant location across Europe. Additionally, Tangem plans to offer this technology to other issuers interested in utilizing it for their own customers.

Unlike traditional custodial solutions, which rely on third-party entities to manage user funds, Tangem's card embeds a private key within the chip and requires the physical card's use for every transaction. This unique feature ensures that users maintain exclusive control over their assets at all times, enhancing security and trust in digital transactions.

Cuy Sheffield, Vice President and Head of Crypto at Visa, emphasized the importance of security in the evolving crypto ecosystem. "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," Sheffield said.

Andrey Kurennykh, co-founder and CEO of Tangem, expressed his enthusiasm for the partnership, stating, "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."

The introduction of Tangem's self-custodial payment solution marks a significant advancement in the journey towards a decentralized future. By providing a secure, user-controlled method for crypto payments, this development has the potential to transform how digital currencies are used in everyday transactions, making them more accessible and practical for a broader audience.

Tangem Wallet is a card-shaped self-custodial cold wallet that gives users full control of their private keys. Launched in 2017, the Swiss-based company aims to bring mass adoption of digital assets through its unique combination of a smartcard-based hardware wallet and mobile applications. Since its inception, Tangem has produced over 1,000,000 cards, none of which have been hacked, and the Tangem wallet is available in over 160 countries, with plans for further expansion.

The forthcoming Tangem Visa card represents a pivotal moment in the integration of traditional financial systems with the burgeoning world of digital assets. As more users adopt this technology, it could pave the way for increased acceptance and utilization of cryptocurrencies in mainstream financial transactions.