Visa, Transak to provide crypto-to-fiat withdrawals in 145 countries
Two payment giants are collaborating to tackle one of crypto ’s pain points regarding mass adoption: swapping digital assets into fiat currencies. 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. Visa is a world leader in digital payments, while Transak specializes in building payment infrastructure for crypto and NFTs. Together, the pair noted that on-ramps that allow users to change fiat currencies like the U.S. dollar into crypto like Bitcoin (BTC) have garnered more attention than off-ramps that allow participants to cash out their digital assets. In a statement, the companies said this situation often leaves users unable to exit crypto markets or incentivizes withdrawal methods that may run contrary to local regulations. Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, remarked t...