Tangem and Visa Launch New Crypto Wallet for Secure Payments

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As a seasoned crypto investor with a keen interest in the latest developments in the industry, I’m excited about the partnership between Visa and Tangem. This collaboration holds the potential to revolutionize the way we use cryptocurrencies for everyday transactions.

Tangem, a company specializing in Visa and cryptocurrency wallets, is collaborating to merge self-managed digital asset storage and conventional payment solutions through the adoption of advanced hardware wallet technology.

According to the July 4th announcement, Tangem and Visa are set to unveil a groundbreaking cryptocurrency hardware wallet. This innovative gadget integrates Visa’s renowned payment system with Tangem’s self-custodial wallet solution.

As a researcher, I’ve come across some exciting news from Tangem. According to their Chief Technology Officer Andrey Lazutkin, Tangem is set to release a new business-to-consumer (B2C) product under their brand name by the end of this year. Lazutkin mentioned that they have obtained Visa certification and a patent for the technology behind it. With these milestones achieved, they are now in the final stages of development and will soon be ready to unveil their innovative creation to the world.

As a researcher exploring the latest developments in the crypto sphere, I’m excited about Tangem’s upcoming innovation – Tangem Pay. This new crypto wallet offers a groundbreaking payment solution that lets users spend their cryptocurrencies directly from their self-custodial wallets at merchants’ terminals or online platforms. Essentially, it bridges the gap between traditional payments and the crypto world, making transactions more seamless and convenient for the average user.

Andrey Kurennykh, Tangem’s co-founder, emphasized the revolutionary character of their latest offering. He explained, “Users will enjoy the best of both worlds with our product – the ease of using a traditional bank card and the powerful features of a personal crypto wallet, all combined into one smart card.”

As an analyst, I’d highlight that this evolution is a significant stride in connecting the dots between conventional banking and digital currencies, streamlining the experience for average consumers to reap the rewards of both domains.

Future Developments and Market Expansion

As a crypto investor, I’m excited to share that Tangem is planning to launch a Business-to-Consumer (B2C) solution as a “user-friendly Web3 service” by the end of the year. This means that anyone using any type of digital wallet will be able to access and benefit from this service, not just those who use Tangem specifically.

Tangem is creating a SaaS solution for banks and blockchain networks, allowing them to produce customized cards for issuing digital currencies. By adopting this platform, banks can seamlessly incorporate cryptocurrency offerings into their existing product range, effectively converting blockchains into functional payment systems.

The newly introduced Tangem wallet is set to begin with Tether (USDT) on the Polygon network as its first offering, aiming to subsequently include other digital currencies. As stated on their website, Tangem currently caters to over fifty networks including Bitcoin and Ethereum.

Impact on the Crypto and Finance Industry

Through this collaboration, the impact on conventional financial structures and the broader cryptocurrency sector could be substantial. By simplifying and enhancing the security of cryptocurrency transactions, more people might adopt and utilize digital currencies for their day-to-day exchanges.

As an analyst, I’ve observed that a Tangem Wallet package contains up to three identical cards. This feature allows users to have multiple entry points to the same wallet. According to Tangem’s spokesperson, this setup enhances accessibility. Additionally, approximately 80% of users have initiated their wallets without utilizing seed phrases. Instead, they opted for Tangem’s advanced backup technology, which ensures security and convenience.

As a visa crypto analyst, I’m thrilled to announce our new partnership with Tangem. Together, we aim to push the boundaries of payment solutions and make transactions with digital currencies more convenient than ever. With Tangem’s focus on security, I’m excited for what we can achieve in driving the next generation of seamless digital currency payments.

Tangem’s partnership with Visa marks a major leap forward in the financial sector, establishing Tangem as a pivotal figure in bridging the gap between conventional and digital financial structures.

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2024-07-04 19:32