Visa launches direct withdrawal of cryptocurrencies to its debit cards for 145 countries

Residents of 145 countries will have access to the new function, and to withdraw funds they will need to use the Visa Direct service. The opportunity itself came about through a partnership with Web3 infrastructure service provider Transak.

Users of cryptocurrency wallets, such as MetaMask, will be able to withdraw funds directly to their Visa cards, as well as pay for goods and services at points that support plastic cards. Previously, to withdraw funds to Visa cards, users had to resort to the services of centralized cryptocurrency exchanges or third-party applications.

“By enabling real-time card withdrawals through Visa Direct, Transak provides a faster, simpler and more seamless experience for users, making it easier to convert cryptocurrencies into fiat money,” said Yanilsa Gonzalez, head of Visa Direct North America. Ore).

The service supports at least 40 cryptocurrencies, and residents of Turkey, Malta, Cyprus, Singapore, Portugal and the UAE, among others, have access to it. As noted by Transak's head of marketing and head of investor relations, Harshit Gangwar, the collaboration should make it much easier for users to work with decentralized platforms and wallets.