Cryptocurrency wallet provider Tangem has partnered with Visa to merge self-custody wallets with conventional payment systems. The collaboration introduces a groundbreaking hardware wallet technology integrated with Visa payment cards, announced on July 4.
Visa Certifies Tangem’s Hardware Wallet Payment Technology
Tangem’s upcoming crypto wallet features Tangem Pay, a payment technology enabling users to spend cryptocurrencies directly from their self-custody wallet via merchant terminals or online payment tools. Visa certified this payment technology in February 2022.
"We received Visa’s certification and a patent for the technology, and now we’ve developed a product ready to unveil to the world," said Andrey Lazutkin, Tangem’s CTO.
The solution offers a dual functionality:
- Self-custody crypto wallet (supporting 59+ networks like Bitcoin and Ethereum).
- Visa payment card for seamless traditional transactions.
Andrey Kurennykh, Tangem’s co-founder, emphasized:
"This bridges traditional banking and digital assets, helping everyday users navigate both worlds."
Key Features of Tangem Pay:
- Seedless option: Operates via smart contracts, eliminating seed phrase vulnerabilities.
- Multi-wallet compatibility: Works with MetaMask, Ledger, Trust Wallet, and others.
- Asset flexibility: Launching with USDT on Polygon, expanding to other cryptocurrencies.
👉 Explore Tangem’s secure wallet solutions
Expanding Accessibility and Future Plans
Tangem plans a B2C launch by late 2024, followed by a SaaS platform allowing other wallets to issue branded cards. This enables banks to integrate crypto solutions and transforms blockchains into payment platforms.
Current Tangem Wallet Stats:
- 1M+ cards produced since 2021.
- Available in 160+ countries, with further expansions planned.
- 80% of users opt for seedless wallets using Tangem’s backup tech.
Cuy Sheffield, Visa’s crypto lead, noted:
"Partnering with Tangem accelerates next-gen payment solutions, prioritizing security and ease."
FAQ Section
1. How does Tangem Pay ensure security?
Tangem Pay uses Visa-certified smart contracts, allowing transactions without exposing private keys. Lost/damaged cards can be replaced without compromising wallet access.
2. Which cryptocurrencies are supported initially?
USDT on Polygon will debut first, with plans to add more assets across Tangem’s 59+ supported networks.
3. Can Tangem Pay work with non-Tangem wallets?
Yes. It’s designed as a Web3 service compatible with MetaMask, Ledger, and others.
4. What’s unique about Tangem’s seedless wallets?
They use encrypted backup technology, eliminating seed phrase risks while maintaining self-custody.
5. Where is Tangem Wallet available?
Currently in 160+ countries, with ongoing global expansions.
👉 Discover how Tangem merges crypto and traditional payments
Note: Always conduct independent research before investing. Crypto investments are unregulated and may not be suitable for all investors.