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“ For MetaMask users, [U]you now have the opportunity to conveniently sell your crypto and transfer the fiat funds directly to a Visa card[/U], eliminating the traditional reliance on centralized exchanges. “
Visa, a leading player in the global payment industry, continues to show their commitment to cryptocurrency adoption with the introduction of a new method for exchanging crypto to fiat without the involvement of centralized exchanges.
Through a collaboration with Transak, a Web3 infrastructure provider, Visa has announced the integration of cryptocurrency withdrawals and payments through their “Visa Direct solution” on January 30. This allows users to easily withdraw crypto assets, such as Bitcoin (BTC), directly from their MetaMask wallet to a Visa debit card. This feature is available immediately and enables you to seamlessly convert crypto to fiat and make payments at over 130 million merchant locations that accept Visa.
According to Visa Direct's North America Head, Yanilsa Gonzalez-Ore, this collaboration with Transak provides a “faster, simpler, and more connected experience for users, making it easier to convert crypto balances into fiat. This partnership is a major breakthrough in bridging the gap between the crypto and traditional finance worlds.”
As pointed out by Transak's marketing head and investor relations lead Harshit Gangwar, it significantly increases the options available for converting crypto to fiat currencies.
The integration covers 145 countries, including jurisdictions like Cyprus, Malta, Singapore, Turkey, Portugal, and the United Arab Emirates, making it more accessible for users worldwide. Gangwar also emphasized the impact of this integration on mainstream acceptance and usage of cryptocurrencies, thanks to the convenience and accessibility it offers for transactions. This partnership marks a significant step towards a more interconnected and inclusive financial world.
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