Cryptocurrency Debit Card Firm Baanx has partnered with Visa to launch Stablecoin Payment Cards tied to a freestanding wallet that begins in the US at Sircle’s USDC Dollar Pegged Token.
Visa cards allow holders to spend USDC directly from their Crypto wallets, using smart contracts to use Stablecoin Balance in real time when approving card from consumers to BaAnx, BaAnx converts Fiat balance to Fiat for payment, according to a press release on Wednesday.
With the help of major card networks like Visa and MasterCard, allowing people to manage their money on-chain is a rapidly growing segment within Crypto. BaAnx, a company specializing in Crypto debit cards, works with MasterCard on cards linked to Metamask wallets.
Stablecoin payments have also intensified with Circle recently unveiling its own payment network, which first focuses on cross-border payments and remittances.
According to the release, BaAnx’s Stablecoin-linked visa cards promise a global reach with low-cost cross-border payments within the mix.
“In many regions, access to stable currency is a luxury. We say the future of a visa is the future of a statement.
“We know that the payment ecosystem is still in the early innings of Stablecoin adoption, but with real utilities coming to the forefront, we’re excited about what’s next.”