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 <p class="is-style-lead">Two payment giants are collaborating to tackle one of <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>’s pain points regarding mass adoption: swapping digital assets into fiat currencies.</p> 
 <p>On Jan. 30, Transak and Visa announced a partnership to bridge the gap between the worlds of cryptocurrencies and traditional finance by offering direct crypto-to-card withdrawals in over 145 nations.</p> 
 <p>Visa is a world leader in digital payments, while Transak specializes in building payment infrastructure for <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and NFTs. Together, the pair noted that on-ramps that allow users to change fiat currencies like the U.S. dollar into <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> like Bitcoin (BTC) have garnered more attention than off-ramps that allow participants to cash out their digital assets.</p> 
 <p>In a statement, the companies said this situation often leaves users unable to exit <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> markets or incentivizes <a rel="dofollow" title="withdrawal" href="https://thebittimes.com/tag/withdrawal.html">withdrawal</a> methods that may run contrary to local regulations.&nbsp;</p> 
 <p>Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, remarked that real-time payments through a secure regulated channel solve this.</p> 
 <div class="cn-block-related-link"> 
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 <blockquote class="wp-block-quote"> 
  <p>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 130 million merchant locations where Visa is accepted.</p> <cite>Yanilsa Gonzalez-Ore, Head of Visa Direct, North America Division</cite>
 </blockquote> 
 <p>Transak co-founder and CEO Sami Start added that his firm’s support for over 40 cryptocurrencies translates to many options for crypto-to-fiat conversions. Transak also has a presence on over 350 web3 wallets and defi platforms, such as MetaMask and Decentraland.&nbsp;&nbsp;</p> 
 <p>The partnership comes when <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ownership has grown in leaps and bounds over the past year. As <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>.news reported, global <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> usage increased by 34% in 2023, with Bitcoin and Ethereum (ETH) recorded as major catalysts behind the ascent to 580 million users worldwide.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Crypto usage grew 34% in 2023; Bitcoin, Ethereum major catalysts 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/visa-transak-to-provide-crypto-to-fiat-withdrawals-in-145-countries-tbt78273.html">https://thebittimes.com/visa-transak-to-provide-crypto-to-fiat-withdrawals-in-145-countries-tbt78273.html</a></p>

Visa, Transak to provide crypto-to-fiat withdrawals in 145 countries

TheBitTimes

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