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SAN FRANCISCO - FEBRUARY 25: Visa credit cards are arranged on a desk February 25, 2008 in San ... More Francisco, California.
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In a significant development for cryptocurrency adoption, Baanx has announced a partnership with Visa to launch stablecoin-linked cards tied directly to self-custodial wallets. The new offering will initially roll out in the United States before expanding to additional markets globally, coming just days after Mastercard unveiled its own comprehensive stablecoin strategy with partners OKX and Nuvei.
How Stablecoin Cards Bridge Digital And Physical Payments
The new Baanx-Visa partnership enables crypto users to spend USDC (a fiat-backed stablecoin) directly from their self-custodial wallets at any merchant accepting Visa. The system works through smart contracts that move stablecoin balances from the consumer to Baanx in real time upon card authorization, with Baanx handling the conversion to fiat for payment settlement.
This announcement represents a major advancement in solving what industry insiders call the "last mile problem" in cryptocurrency: enabling everyday spending of digital assets without sacrificing the self-custody principles that distinguish crypto from traditional finance.
"Stablecoin cards represent a massive leap forward for global financial access," said Simon Jones, Chief Commercial Officer at Baanx, in the official announcement. "In many regions, access to stable currency is a luxury. We’re giving people the ability to hold and spend USD-backed stablecoins seamlessly, in a self-custodial, real-time way, anywhere Visa is accepted."
This approach to financial access aligns with Jones’ broader vision: "Two or three years ago, crypto was very much its own thing. FinTech was very much its own thing [...]
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