Transak Partners with Visa to Enable Crypto-to-Fiat Conversions in 145 Countries

According to CryptoPotato, Transak, a leading infrastructure provider for crypto-to-fiat conversions, has partnered with global payments giant Visa to streamline the process of moving between cryptocurrencies and fiat currencies. The collaboration will allow crypto holders in 145 countries to seamlessly sell their crypto for fiat, with direct access to Visa Direct's capabilities. Visa Direct enables members to send real-time push payments to over one billion Visa card accounts within 30 minutes or less, a significant improvement over traditional banking rails, which can take days to transfer and convert funds, especially across borders. This network is now accessible to any digital wallets that already use Transak's infrastructure for buying and selling crypto, including over 350 wallets such as MetaMask, TrustWallet, and Ledger. Sami Start, Co-founder & CEO of Transak, said that the partnership provides millions of people worldwide with a straightforward way to cash out their digital asset holdings to their local currency in real-time and intuitively. Users can spend their fiat at over 130 million merchants globally that accept Visa after conversion. The partnership addresses a long-standing issue hindering mainstream adoption of crypto: quickly converting one's crypto holdings back into local fiat currency. While easy swaps into stablecoins, cryptocurrencies backed by fiat currencies, offer a solution for some, these assets exist in a legal gray zone within many jurisdictions. For example, Canada has forced its major crypto exchanges to delist Tether (USDT), the world's largest stablecoin by market cap. Both Visa and its rival card network, Mastercard, have spent years supporting the crypto ecosystem through new services bridging the gap between fiat and digital assets. Visa has used USDC on the Ethereum and Solana blockchains to settle millions of dollars worth of fiat currency payments authorized over VisaNet.