- Tangem Pay adds USDC spending capacity with global rollout.
- Visibility for hardware wallet self-custody approach.
- USDC is spent on Visaโs global network, impacting cross-border transactions.
Tangem Pay launches, allowing users to transact USDC via a virtual Visa card from their Tangem hardware wallets. Partnering with Paera for card infrastructure and Rain for KYC compliance, the service targets regions including the U.S., Latin America, and Asia-Pacific.
Nut Graph: The event exemplifies a unique fusion of self-custody wallet technology with virtual card transactions, reflecting Tangemโs strategic expansion plans. It highlights potential shifts in stablecoin usage and the importance of compliance via KYC.
About Tangem Pay Launch
Tangem launched the Tangem Pay virtual Visa card service allowing users to spend USDC stablecoins directly from their hardware wallets. The service begins in the U.S., Latin America, and Asia-Pacific and requires KYC for account access.
Tangem, led by CEO Andrey Kurennykh, has partnered with Paera for virtual card infrastructure and Rain for KYC compliance. The project supports USDC on the Polygon network, utilizing Visaโs global merchant rails.
โTangem Pay represents a breakthrough in connecting self-custody with everyday payments, giving users complete control without compromising compliance.โ โ Andrey Kurennykh, CEO, Tangem
Implications for the Crypto Market
The service could influence transaction volumes and promote greater use of stablecoins in day-to-day spending. With its self-custody model, Tangem Pay provides an alternative to custodial crypto cards, addressing user autonomy and compliance.
Financially, Tangem Pay may affect USDC flows and transactional utilities on Visaโs network. Politically, it adheres to global regulatory standards by enforcing KYC, fulfilling US and FATF requirements for stablecoin transactions.
Past products of similar nature, like Crypto.com and Coinbase Card, have seen minor yet impactful changes in transaction volumes. The self-custody aspect of Tangem Pay distinguishes it, potentially augmenting the hardware wallet market dynamics.
Insights from historical crypto card rollouts suggest Tangem Pay could influence stablecoin and cross-border transaction practices. Ongoing developments will be closely watched amidst a growing focus on compliance and innovative crypto solutions.
About the author
Tangem Introduces Tangem Pay for USDC Transactions
Tangem has launched a virtual Visa card, Tangem Pay, for USDC spending from hardware wallets in the U.S., Latin America, and Asia-Pacific with KYC compliance.
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