Visa and crypto payments network Mesh have partnered so consumers can spend cryptocurrency and stablecoin balances from digital wallets across Visa's network. Mesh said participating wallets, supported devices and launch dates will be announced as rollout plans are finalized.
Visa and Mesh have partnered to let consumers spend cryptocurrency and stablecoin balances directly from digital wallets at merchants across Visa's global payment network. Mesh will connect the wallets to Visa's network, so users do not need a separate card.
According to a Monday announcement from Mesh, users of participating wallets will pay in stores or online without transferring funds to a bank account or obtaining a separate crypto card. Merchants will receive payments through Visa's existing network and will not change their checkout systems.
Visa's network covers more than 175 million merchant locations across over 200 countries and territories. Mesh said participating wallets, supported devices and launch dates will be announced as rollout plans are finalized.
Mesh will handle transaction funding and conversion between cryptocurrencies, stablecoins and fiat currencies, while Visa payment credentials are provisioned through participating wallet apps. The company will also manage customer onboarding and Know Your Customer (KYC) requirements.
The deal follows Mesh's integration with Bybit Pay in September, which lets users spend directly from their exchange balances on supported platforms. In January, Mesh raised $75 million in a Dragonfly-led funding round that valued the company at $1 billion.
Source: Cointelegraph
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