Visa offers its crypto-to-fiat exchange service in 145 countries

Visa, the global payments giant, is driving the adoption of cryptocurrencies by offering another method to exchange crypto for fiat currencies without the need to use a centralized exchange.

Visa has partnered with Transak, the Web3 infrastructure provider, to launch cryptocurrency withdrawals and payments through the Visa Direct solution, the companies announced on January 30.

The integration, which is now available, allows you to exchange crypto for fiat and pay at 130 million Visa-accepting merchants, directly from a wallet like MetaMask to a Visa debit card.

“By enabling real-time card withdrawals with Visa Direct, Transak provides a faster, simpler and more connected experience for its users, making it easier to convert crypto balances to fiat,” said Yanilsa Gonzalez-Ore, leader of Visa Direct in North America.

The partnership significantly increases the number of options for converting cryptocurrencies into fiat currencies and represents a major breakthrough in the connection between the world of cryptocurrencies and traditional finance, said Harshit Gangwar, Head of Marketing and Investor Relations at Transak.

The partnership enables users in 145 countries to directly convert at least 40 cryptocurrencies to fiat without relying on centralized exchanges. Some of the eligible countries are jurisdictions such as Cyprus, Malta, Singapore, Turkey, Portugal and the United Arab Emirates, according to Transak’s global coverage page.

“This is a big step towards the massive acceptance and use of cryptocurrencies,” Gangwar said, highlighting a more accessible and convenient nature of transactions enabled by integration.

K. Tovar

Source: Cointelegraph

(Reference image source: CardMapr.nl, Unsplash)

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