Visa is advancing cryptocurrency adoption by introducing a new crypto-to-fiat exchange method without centralized exchanges, in collaboration with Web3 infrastructure provider Transak.

Announced on Jan. 30, the partnership enables users to withdraw cryptocurrencies like Bitcoin directly to a Visa debit card through Visa Direct.

This integration allows for immediate crypto-to-fiat exchanges and payments at Visa-accepting merchant locations.

Yanilsa Gonzalez-Ore of Visa Direct emphasized the streamlined and connected user experience.

The partnership covers 145 countries and supports converting over 40 cryptocurrencies to fiat, enhancing accessibility and convenience.

Transak's Harshit Gangwar highlighted the partnership's significance in mainstream crypto adoption, noting its benefits for decentralized platform users.

MetaMask’s Lorenzo Santos acknowledged the integration's value for MetaMask users in terms of cryptocurrency to fiat conversions.

Transak's role in the integration involves ensuring compliance with KYC and AML regulations, facilitating legal transactions.

Visa has been exploring cryptocurrency use cases, supporting USDC stablecoin on Visa cards since 2020 and expanding its support on the Solana blockchain in September 2023.

Sources:

https://cointelegraph.com/news/visa-crypto-withdrawals-cards-145-countries

https://transak.com/global-coverage