Web3 Payments Firm Transak Joins Visa Direct to Streamline Crypto-to-Fiat Conversion

In a significant leap towards making cryptocy more accessible to people worldwide, Visa a global payment giant, has joined forces with Transak, a Web3 infrastructure provider, to enable global crypto withdrawals.

Users can now swap digital assets directly from their self-custodial wallets, such as MetaMask, onto their Visa debit cards. In a press release shared with Coinspeaker on January 30, the partnership introduced an innovative method for users to seamlessly convert their digital asset holdings into traditional currencies using their Visa debit cards.

The move eliminates the need for complex centralized exchanges, making it easier for individuals to navigate the crypto world. Transak will leverage Visa Direct, a solution built by Visa, to facilitate real-time transactions to enhance the company’s global off-ramps services as part of the partnership agreement.

Visa Direct can process transactions in real-time with a processing time of 30 minutes or less. The integration, available immediately, empowers users to make purchases at more than 130 million merchant locations worldwide where Visa cards are accepted.

The partnership opens up new possibilities for users in 145 countries, allowing them to convert more than 40 cryptocurrencies available on Transak, including popular crypto assets like Bitcoin (BTC), Ethereum (ETH), and Tether’s stablecoin USDT.