Tangem, the company behind the creation of Shiba Inu’s unique hardware wallet, has announced a partnership with Visa to merge mainstream payments with self-custody capabilities. This collaboration will involve integrating Tangem’s new technology with Visa payment cards.
In an interview with Cointelegraph, Tangem’s CTO Andrey Lazutkin revealed that the upcoming product, called Tangem Pay, will be launched under the Tangem brand by the end of the year. Lazutkin explained that Tangem Pay is the result of a certification and patent received from Visa in February 2022.
Tangem Pay will allow users to spend various cryptocurrencies directly from their wallets through payment terminals supported by Visa merchants. However, the initial release of the product will only support USDT on the Polygon network.
Currently, Tangem supports thousands of digital assets across 59 blockchain networks. Notably, it also supports SHIB on the Ethereum, BNB Smart Chain (BSC), and Shibarium networks, as well as other Shiba Inu ecosystem tokens such as LEASH and BONE.
While Tangem plans to expand its support for other cryptocurrencies in the future, specific details and timelines have not been disclosed.
Tangem’s co-founder and CEO, Andrey Kurennykh, emphasized that Tangem Pay will offer users a two-in-one solution, combining the functionalities of a self-custodial wallet with the convenience of a traditional bank card. This initiative aims to bridge the gap between traditional finance and digital assets, providing users with the benefits of both worlds.
Interestingly, Tangem Pay will not be limited to Tangem wallets alone. The company plans to extend the solution to other popular crypto wallets like Metamask, Trust Wallet, and Ledger.
Tangem, which launched in 2021, is a leading provider of crypto custody solutions. Its hardware wallets are in the form of cards and can be activated with or without a seed. Since its launch, Tangem has produced over one million cards, including customized wallets for various cryptocurrencies, including Shiba Inu.
Last year, Tangem introduced customized wallets for Shiba Inu enthusiasts, and the Shiba Inu community pre-ordered 5,000 Tangem wallets. The company shipped the first batch in July 2023. Additionally, Tangem expanded its support for Shiba Inu by accepting SHIB as a payment method for its wallets and manufacturing customized wallets for Shiba Inu’s partner, Bad Idea AI.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses.