Overview

Cryptocurrency debit card provider Baanx has collaborated with Visa to launch stablecoin payment cards associated with self-custodial wallets, beginning in the U.S. with Circle’s USDC dollar-pegged token.

Key Features

• The Visa cards allow users to directly spend USDC from their crypto wallets. They utilize smart contracts to facilitate the movement of a stablecoin balance in real-time, converting into fiat currency during payment transactions.

Updates and Partnerships

Baanx is also developing a card linked to MetaMask wallets in partnership with Mastercard.

Market Growth

The launch of these cards reflects the increasing trend of utilizing major card networks to facilitate on-chain financial management. Baanx’s cards promise affordable worldwide payments, meeting the rising demand for stablecoin applications.

Industry Insights

“In many regions, access to stable currency is a luxury. We’re allowing users to hold and spend USD-backed stablecoins seamlessly in real-time anywhere Visa is accepted. This represents the future of finance,” stated Simon Jones, Baanx’s Chief Commercial Officer.

Visa’s representative, Rubail Birwadker, added, “While the payments landscape for stablecoins remains in its early stages, the demand for real-world utilities is growing, and we’re looking forward to what’s ahead.”