Starting now, users will be able to spend cryptocurrency and stablecoin balances across more than 175 million merchants, thanks to the partnership between Mesh and Visa. This Monday, the financial infrastructure firm and the payments giant announced that payments will be made directly from digital wallets without the need for additional cards. As Bam Azizi, CEO and co-founder of Mesh, detailed, users will also be able to transact without needing to sell, exchange, or transfer assets beforehand, or request a separate physical card.
The agreement represents a crucial step forward in the mass adoption of digital assets by solving the “last mile” problem in everyday payments. Through credentials provisioned in the background by the Visa network, Mesh will handle instant conversion and settlement at the point of sale, eliminating operational friction for consumers and allowing merchants to receive traditional funds without modifying their current checkout systems.
Currently, the companies are still finalizing the details regarding compatible platforms, supported devices , and the initial rollout schedule. The next step for the consortium will be to unveil the list of participating wallets and the regions where this direct settlement service will begin operating.
Source: https://www.prnewswire.com/news-releases/mesh-and-visa-partner-to-make-stablecoin-and-crypto-balances-spendable-across-175-million-merchants-302912148.html
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