Transak, a Web3 payments infrastructure provider, is now a part of Visa Direct.
In brief:
- This marks “a significant milestone by enabling users in over 145 countries to seamlessly convert their cryptocurrency holdings into local fiat currencies.
- Transak’s payment and onboarding services let users buy and sell crypto, handling things like know-your-customer (KYC) requirements, risk monitoring and compliance on behalf of its customers.
- Industry observers and participants still believe that blockchain technology and cryptocurrencies have the potential to revolutionise financial inclusion for marginalised and unbanked people.
What does this mean?
“By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 130M merchant locations where Visa is accepted,” said Yanilsa Gonzalez-Ore, North America head of Visa Direct and Global Ecosystem Readiness.
