"Anyone who's building a stablecoin wallet needs to have a card connected to it if they want consumers and businesses to be able to have that value held in the wallet spent in the real world. This integration between crypto infrastructure and traditional payment networks enables practical utility for stablecoin holders seeking real-world transaction capabilities."
"Some proponents of stablecoins say they threaten dominant companies like Visa and Mastercard, as consumers can send and receive dollars instantly on blockchains instead of relying on decades-old networks. However, Bridge's expanding partnership with Visa underscores how the disruption narrative may be overstated and how fintechs are becoming more integrated with legacy payment firms."
Visa and Bridge, a crypto startup acquired by Stripe, are expanding their stablecoin partnership to launch cards in 100 countries across Europe, Asia, and Africa, following earlier commitments in Latin America. The stablecoin-backed cards, currently live in 18 countries, allow customers to convert crypto wallet balances into spendable currency at traditional merchants. Bridge enables wallet startups like Phantom to create branded debit cards while Visa provides the payments network infrastructure. Despite predictions that stablecoins would disrupt traditional payment networks, the partnership demonstrates how fintech companies are integrating with legacy payment systems rather than replacing them entirely.
Read at Fortune
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