Visa Teams Up with Transak to Enhance Crypto-to-Fiat Conversions

<p>Transak, a payments infrastructure provider for
crypto and NFTs, has partnered with Visa. This collaboration
aims to empower users globally, enabling them to convert their
cryptocurrency holdings into local fiat currencies.</p><p>Transak's presence across 350+ Web3 wallets
and platforms ensures widespread accessibility for users worldwide. From
MetaMask to Coinbase Wallet, Transak's integration aims to simplify the
conversion process, bringing crypto-to-fiat capabilities to crypto users.</p><p>Targeting Swift Crypto-to-Fiat Conversions</p><p>Sami Start, the Co-Founder and CEO of Transak,
mentioned in a statement shared with <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> on Telegram: "We believe this partnership is an inflection point for Web3 as
a whole. Now, millions across the globe have a straightforward way to cash out
their digital asset holdings to their local currency intuitively and in real-time. They no longer have to walk the treacherous path of <a href="https://www.financemagnates.com/terms/c/compliance/">compliance</a>
uncertainty or face risks of fraud."</p><p>Visa Direct's hallmark feature is its ability to swiftly process transactions. This stands in stark
contrast to traditional banking methods, which can entail lengthy delays,
especially across borders. By integrating Visa Direct with Transak's infrastructure, users can access a mechanism for
converting <a href="https://www.financemagnates.com/tag/crypto/" target="_blank" rel="follow">crypto</a> assets into fiat, enhancing liquidity and accessibility.</p><p>Yanilsa Gonzalez-Ore, the Head of Visa Direct and
Global Ecosystem Readiness in North America, added: "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."</p><p>Acquisitions and Web3 Ventures</p><p>Recently, <a href="https://www.financemagnates.com/fintech/visa-and-plug-and-play-join-forces-to-boost-canadian-fintech-market/" target="_blank" rel="follow">Visa partnered with Plug and Play</a> to
enhance <a href="https://www.financemagnates.com/terms/f/fintech/">fintech</a> innovation in Canada. With the fintech sector projected to grow
at an annual rate of 25% until 2029, Visa's involvement aims to amplify this
growth trajectory. Through initiatives like the Fintech Fast Track Program,
Visa targets startups with the tools and resources to revolutionize payment
solutions.</p><p>Visa's acquisition of Pismo, a cloud-based fintech
startup, underscores its commitment to expanding beyond traditional card
payments. This deal, worth $1.2 billion deal, lets Visa offer core banking and card
processing solutions, leveraging Pismo's cloud-native APIs. </p><p>Additionally, Visa's foray into Web3 technologies
signals a proactive approach toward digital innovation. The launch of Visa
Web3 Loyalty Engagement, in collaboration with SmartMedia Technologies, bridges
the gap between Web 2 and Web 3 realms.</p><p>Participate in Our Fraud Survey: Your Opinion Matters!</p><p>We invite you to participate in our joint survey conducted
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This article was written by Jared Kirui at www.financemagnates.com.