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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 withdrawals to cards via Visa Direct, Transak provides a faster, simpler and more seamless experience for users, making it easier to convert cryptocurrencies into fiat money,” said Visa Direct North America CEO Yanilsa Gonzalez-Ore.
The service supports at least 40 cryptocurrencies, and residents of Turkey, Malta, Cyprus, Singapore, Portugal and the UAE.
As noted by the head of the Transak marketing department and the head of the communications department with investors Harshit Gangwar, cooperation should significantly make it easier for users to work with decentralized platforms and wallets.
Previously reported that payment firm Visa will use the Solana-based USDC stablecoin to speed up cross-border transactions.