Payment service provider Visa has partnered with Singapore’s dtcpay to expand its crypto payments network. As part of the partnership, The global payment provider will integrate dtcpay’s digital payment services into its global payment network, which includes over 130 million merchants across 200 countries worldwide. This development provides a huge boost for crypto adoption as they gain more ground in the payments sector.
Visa Partners With Dtcpay To Expand Crypto Payments
The global payment service provider has partnered with Dtcpay to expand crypto-asset payments in Singapore. The global payment service provider will integrate Dtcpay’s digital payment capabilities into its payments network, providing access to over 130 million acceptance locations worldwide. The first part of the agreement includes launching the ‘dctpay Visa Infinite’ card, which users can use to make these crypto payments.
Users can convert their digital assets, such as stablecoins, to fiat currencies. These fiat currencies are what customers will then be able to fund their cards. Other parts of the partnership include implementing global payment solutions for ultra-high-net-worth (UHNW) individuals, businesses, and consumers.
Speaking about this partnership, Adeline Kim, Visa’s Singapore Manager, mentioned that the agreement with dtcpay underscores their commitment to driving innovation in the payments industry. She added that combining her firm’s global reach with dtcpay’s Web3 expertise will empower consumers and businesses to make digital payments seamlessly.
Alice Liu, CEO and Co-Founder of dtcpay, also highlighted how this partnership furthers their mission to bridge the gap between digital payments and traditional finance by enabling digital assets to be used and accepted by mainstream financial systems.
Digital Assets Payments Partnerships
This new partnership with dtcpay adds to a number of crypto-related partnerships that the payment service provider secured this year. In June, the payment service provider collaborated with Switzerland-based crypto hardware wallet maker Tangem. This partnership enables Tangem users to make payments with their cards using the digital assets in their wallets.
Additionally, the payment provider partnered with Gnosis Pay to launch a digital asset-linked debit card for European customers in May. The global payment service provider has also partnered with the Web3 app Wirex to promote the use of digital currencies. As such, these partnerships will continue to fuel crypto adoption as more crypto payment platforms gain access to Visa’s network.
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