Tangem and Visa to Launch Crypto Payment Card with Integrated Hardware Wallet

Tangem, a leading provider of secure hardware wallet solutions, has announced a strategic partnership with Visa to develop a groundbreaking self-custodial payment solution. The collaboration aims to combine a Visa payment card with Tangem’s hardware wallet technology, enabling users to spend cryptocurrencies and stablecoins seamlessly at Visa-accepting merchants.

Key Features of the Tangem Visa Card

Two-in-One Solution: Merges the convenience of a traditional bank card with the security of a self-custodial crypto wallet.
Self-Custodial Security: Private keys are embedded within the card’s chip, requiring physical use for every transaction to ensure user control.
European Availability: Initially launching across Europe, with plans to expand globally.
Non-Custodial Model: Eliminates reliance on third-party custodians, aligning with decentralized finance principles.

Executive Insights

Andrey Kurennykh, Tangem’s CEO, emphasized the innovation’s significance:

“This bridges traditional banking and digital assets, empowering users to navigate both worlds effortlessly.”

Cuy Sheffield of Visa highlighted the company’s crypto ecosystem focus:

“Security remains paramount as we advance crypto’s role in global payments.”

Expanding Tokenisation Efforts

Visa’s commitment to blockchain innovation extends beyond this partnership. In May 2024, Visa collaborated with JPMorgan Chase on a tokenisation pilot to explore digitizing cash and assets. Potential benefits include:

Faster Settlements: Reducing transaction times and costs.
Regulatory Alignment: Ensuring compatibility with financial frameworks.

Market Trends (July 2024)

Asset	Price	24h Change
Bitcoin	$57,698.33	+2.10%
Ethereum	$3,031.78	+0.80%

FAQs

1. How does the Tangem Visa card differ from other crypto cards?
Unlike custodial cards, Tangem’s solution keeps private keys offline, requiring physical card use for transactions—enhancing security.

2. Which cryptocurrencies are supported?
Initial details suggest support for major tokens and stablecoins, with specifics to be announced closer to launch.

3. When will the card be available?
Rollout begins in Europe, with expansion timelines dependent on regulatory approvals.

4. Can other issuers adopt this technology?
Yes, Tangem plans to license the solution to interested payment providers.

5. How does Visa benefit from blockchain tokenisation?
Tokenisation could revolutionize payment processing by improving liquidity and reducing intermediary dependencies.