Tangem, a provider of secure hardware wallet solutions, has partnered with digital payments firm Visa to launch a new self-custodial payment solution for hardware wallets.
By introducing a Visa payment card combined with a hardware wallet, Tangem will enable its users to make seamless payments by leveraging their crypto or stablecoin balance at merchant locations that accept Visa.
The technology will be accessible through a Tangem Visa card across Europe.
Besides, Tangem aims to make the technology available to other issuers who are interested in utilising it for their own customers.
Visa crypto vice president and head Cuy Sheffield said: “At Visa, our commitment to security is ingrained in our pursuit to help evolve the crypto ecosystem.
“With our partnership with Tangem aimed at driving the creation of next-gen payment solutions, we are excited to work with Tangem to help enable effortless payments with digital currencies designed with security in mind.”
Tangem’s card equips a private key within the chip and mandates the physical card’s use in every transaction. This contrasts with conventional custodial solutions which depend on third-party entities to manage user funds.
According to the secure hardware wallet solutions provider, the new feature helps in ensuring that users can always maintain exclusive control over their assets.
The company also said that the new self-custodial payment solution brings it one step closer to a decentralised future.
Tangem co-founder and CEO Andrey Kurennykh said: “Our users will get a two-in-one solution – the convenience of a regular bank card and the capabilities of a self-custodial crypto wallet, all in one card.
“This is a significant step towards bridging the gap between traditional banking and digital assets, making it easier for everyday users to navigate and leverage the benefits of both worlds”.
Last year, Tangem announced an in-depth software audit of the Tangem Wallet by security lab Riscure. The latter specialises in evaluating the security of embedded software, chips, and devices.
