BAANX PARTNERS WITH VISA TO LAUNCH STABLECOIN CARDS FOR SELF-CUSTODIAL WALLETS

The world of cryptocurrency is constantly evolving, pushing the boundaries of traditional finance and offering innovative solutions for digital asset management. Cryptocurrency debit card firm Baanx has partnered with Visa to launch stablecoin payment cards tied to self-custodial wallets, starting in the U.S. with Circle s USDC dollar pegged token, the companies said. The Visa cards enable holders to spend USDC directly from their crypto wallets, usingOne of the most exciting recent developments is the partnership between Baanx, a leading cryptocurrency payment solutions provider, and Visa, the global payments technology giant. These cards are connected to self-custodial wallets. Like the Mastercard/MoonPay card, the Visa/Baanx cards also convert stablecoins to local fiat currency at the point of sale. Tether has the largest share of the stablecoin market, with a market capitalization of $151 billion. USDC is second, with a market cap of $60 billion.Together, they're launching stablecoin payment cards tied to self-custodial wallets, a move that promises to bridge the gap between the decentralized crypto world and everyday spending.This initiative begins in the United States with support for Circle's USDC, a dollar-pegged stablecoin, allowing users to seamlessly spend their digital assets at any merchant that accepts Visa.This is more than just another crypto card; it's a step towards mainstream adoption, empowering users with greater control and flexibility over their finances. Cryptocurrency debit card firm Baanx has partnered with Visa to launch stablecoin payment cards tied to self-custodial wallets, starting in the U.S. with Circle s USDC dollar pegged token, the companies said. The Visa cards enable holders to spend USDC directly from their crypto wallets, using smart contracts to move a read full storyBy leveraging smart contracts and real-time conversions, Baanx and Visa are paving the way for a future where cryptocurrency is as accessible and usable as traditional fiat currency.

Revolutionizing Crypto Spending with Baanx and Visa

The collaboration between Baanx and Visa signifies a significant shift in how individuals can interact with their cryptocurrency holdings. Cryptocurrency debit card firm Baanx has partnered with Visa to launch stablecoin payment cards tied to self-custodial wallets, starting in the U.S. with Circle s USDC dollar pegged token, theInstead of relying on centralized exchanges or intermediaries, users can now directly utilize their USDC, stored in their own self-custodial wallets, for everyday purchases. Key partners: Bridge: New card product that enables fintech developers to offer stablecoin-linked cards in multiple countries through a single API integration; Baanx: Stablecoin-linked cards tied to self-custodial wallets, beginning in the U.S.This offers a level of autonomy and security that was previously unavailable, enabling individuals to truly own and control their digital assets. Cryptocurrency debit card firm Baanx has partnered with Visa to launch stablecoin payment cards tied to self-custodial wallets, starting in the U.S. with Circle s USDC dollar pegged token, the companies said.The Visa cards enable holders to spend USDC directly from their crypto wallets, usingBaanx, which already powers crypto payment solutions for a large portion of the top self-custodial wallets globally, brings its expertise in bridging the gap between traditional finance and decentralized technologies to this groundbreaking partnership.

What are Self-Custodial Wallets?

A self-custodial wallet is a type of cryptocurrency wallet where the user has complete control over their private keys.Unlike custodial wallets, where a third party holds the keys and manages the funds, self-custodial wallets put the user in charge of securing and managing their own digital assets. The new Baanx-Visa partnership enables crypto users to spend USDC (a fiat-backed stablecoin) directly from their self-custodial wallets at any merchant accepting Visa.This offers greater control but also requires the user to take full responsibility for the security of their keys. Cryptocurrency debit card firm Baanx has partnered with Visa to launch stablecoin payment cards tied to self-custodial wallets, starting in the U.S. with Circle s USDC dollar pegged token, the companies said.The Visa cards enable holders to spend USDC directly from their crypto wallets, using smart contracts to move a stablecoin balance upon card authorization from the consumer to Baanx inCommon examples include hardware wallets like Ledger and Trezor, as well as software wallets like MetaMask and Trust Wallet.The ability to spend directly from these wallets, without transferring funds to an exchange, is a major advantage for security and control.

How the Baanx-Visa Stablecoin Card Works

The functionality of the Baanx-Visa stablecoin card relies on a seamless integration of blockchain technology and traditional payment infrastructure. Visa: Betting on Self-Custody Wallets to Create a Crypto Super App Visa s collaboration with Baanx to launch a stablecoin-backed card is a strong signal of their commitment to crypto-nativeHere's a breakdown of how it works:

1. Spending USDC: Users can spend their USDC directly from their self-custodial wallets at any merchant that accepts Visa.
2. Real-time Smart Contract Transfers: When a card transaction is authorized, a smart contract is triggered to move the USDC balance from the user's wallet to Baanx in real-time.
3. Fiat Conversion: Baanx then converts the USDC to fiat currency, which is used to settle the payment with the merchant.
4. Seamless Experience: The entire process happens seamlessly in the background, providing users with a convenient and hassle-free payment experience.

This innovative approach eliminates the need for users to manually convert their crypto to fiat before making purchases, streamlining the payment process and making it more accessible to a wider audience.

The Benefits of Stablecoin Cards for Self-Custodial Wallets

The launch of stablecoin cards for self-custodial wallets offers a multitude of benefits for both users and the broader cryptocurrency ecosystem:

• Enhanced Control: Users retain full control over their digital assets, as they are not required to entrust their funds to a third party.
• Increased Security: By spending directly from self-custodial wallets, users reduce the risk of their funds being compromised on centralized exchanges.
• Seamless Spending: The card allows for seamless spending of USDC at millions of Visa merchants worldwide.
• Real-time Conversion: The real-time conversion of USDC to fiat eliminates the need for manual conversions and simplifies the payment process.
• Global Reach: Stablecoin-linked Visa cards promise a global reach with the potential for low-cost cross-border payments.
• Financial Inclusion: In regions where access to stable currency is limited, these cards provide a means to hold and spend USD-backed stablecoins.

Simon Jones, Chief Commercial Officer at Baanx, emphasized the significance of this initiative, stating, ""Stablecoin cards represent a massive leap forward for global financial access.We're enabling users to spend USD-backed stablecoins in a seamless, self-custodial way, anywhere Visa is accepted.""

Circle's USDC: The Stablecoin of Choice

Circle's USDC plays a crucial role in the Baanx-Visa partnership. USDC is a fully collateralized, dollar-pegged stablecoin that is designed to maintain a 1:1 peg with the US dollar.This stability makes it an ideal choice for everyday transactions, as users can be confident that the value of their holdings will remain relatively constant. USDC's transparency and regulatory compliance further enhance its appeal, making it a trusted and reliable stablecoin for both users and businesses.

USDC vs.Other Stablecoins

While Tether (USDT) currently holds the largest share of the stablecoin market, with a significantly larger market capitalization, USDC distinguishes itself through its commitment to transparency and regulatory compliance.Circle provides regular attestations of its USDC reserves, ensuring that each USDC token is backed by an equivalent amount of US dollars or other liquid assets held in regulated financial institutions. According to Odaily, Baanx has partnered with Visa to introduce a stablecoin payment card linked to self-custody wallets, initially supporting Circle's USDC. This card allows holders to spend USDC directly from their crypto wallets. Through smart contracts, the USDC balance is transferred to Baanx in real-time upon authorization, where it is then converted to fiat currency for paymentThis level of transparency helps to build trust and confidence in USDC, making it a preferred choice for many users and institutions.

Baanx: Empowering the Future of Crypto Payments

Baanx is a cryptocurrency card specialist focused on providing innovative payment solutions for the digital asset ecosystem.The company's mission is to connect traditional and decentralized finance, making it easier for individuals and businesses to access and utilize cryptocurrencies. Our comprehensive suite of products gives you the flexibility to serve your customers exactly how they need, whether they re spending directly from self-custody wallets, converting assets with ease, or borrowing against their holdings. With Baanx, you get the tools to scale and lead in the fast-evolving world of crypto.Baanx's comprehensive suite of products includes stablecoin-linked cards, crypto-backed loans, and other services designed to empower users in the fast-evolving world of crypto.

Baanx's partnership with Visa further solidifies its position as a leader in the crypto payments space, demonstrating its commitment to innovation and user empowerment.By enabling seamless spending of USDC from self-custodial wallets, Baanx is playing a key role in driving the mainstream adoption of cryptocurrency.

Visa's Embrace of Cryptocurrency

Visa's collaboration with Baanx to launch a stablecoin-backed card is a strong signal of its commitment to the crypto-native space.Visa recognizes the growing importance of cryptocurrency and is actively exploring ways to integrate digital assets into its global payment network.By partnering with innovative companies like Baanx, Visa is positioning itself at the forefront of the evolving financial landscape and embracing the potential of cryptocurrency to transform the way we transact.

Visa's commitment to cryptocurrency extends beyond stablecoin cards.The company is also exploring other use cases for blockchain technology, including cross-border payments, identity verification, and supply chain management.This proactive approach demonstrates Visa's belief in the long-term potential of cryptocurrency and its willingness to adapt to the changing needs of its customers.

Bridge: Enabling Fintech Developers to Offer Stablecoin Cards

Bridge is a key partner in enabling the widespread adoption of stablecoin-linked cards.Bridge provides a platform that allows fintech developers to easily add stablecoin-linked Visa cards to their product offerings and manage these cards programmatically through a single API integration. Baanx has partnered with Visa to introduce stablecoin payment cards in the U.S, initially using Circle's USDC token. Key details include: The Visa card allows users to spend USDC directly from self-custodial wallets. Smart contracts facilitate real-time balance transfers to Baanx, which converts USDC to fiat for payments.Behind the scenes, Bridge facilitates the movement and conversion of stablecoins from and to those cards on behalf of developers.

This innovative platform simplifies the process of integrating stablecoin payments into existing fintech applications, making it easier for developers to offer their users a seamless and convenient way to spend their digital assets. Baanx has announced a partnership with Visa, launching a payment card that allows users to spend USDC directly from self-custody wallets. This innovative card will initially support transactions in regions where Visa is accepted through real-time smart contract transfers to Baanx, which enables conversion to fiat currency for payment.By partnering with Bridge, Baanx is expanding the reach of its stablecoin card program and making it more accessible to a wider range of users.

The Future of Stablecoin Payments

The launch of stablecoin cards for self-custodial wallets represents a significant milestone in the evolution of cryptocurrency payments. Baanx powers crypto payment solutions for six of the top ten self-custodial wallets globally. This partnership with Visa builds on Baanx s mission to connect traditional and decentralizedAs the technology matures and regulatory frameworks become clearer, we can expect to see even greater adoption of stablecoin payments in the years to come. According to online reports, Baanx has partnered with Visa to launch a st. Baanx and Visa partner to launch USDC stablecoin payment card Crypto 7x24.This trend will be driven by the increasing demand for secure, transparent, and efficient payment solutions, as well as the growing acceptance of cryptocurrency as a mainstream asset.

Stablecoin cards have the potential to revolutionize the way we transact, offering users greater control, flexibility, and access to their finances.By bridging the gap between traditional and decentralized finance, these innovative payment solutions are paving the way for a future where cryptocurrency is seamlessly integrated into our everyday lives.

FAQ: Baanx and Visa Stablecoin Card

What is a stablecoin?

A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, typically pegged to a fiat currency like the US dollar. Developers building with Bridge can now easily add stablecoin-linked Visa cards to their product offerings and manage these programmatically through Bridge in multiple countries. Behind the scenes, Bridge moves and converts stablecoins from and to those cards on behalf of developers. Bridge is working with Lead Bank as a financial institutionThis stability makes stablecoins ideal for everyday transactions and as a store of value.

What is USDC?

USDC is a fully collateralized, dollar-pegged stablecoin issued by Circle.It is designed to maintain a 1:1 peg with the US dollar and is backed by reserves of US dollars and other liquid assets held in regulated financial institutions.

What is a self-custodial wallet?

A self-custodial wallet is a cryptocurrency wallet where the user has complete control over their private keys.This offers greater control but also requires the user to take full responsibility for the security of their keys.

How does the Baanx-Visa stablecoin card work?

The card allows users to spend USDC directly from their self-custodial wallets at any merchant that accepts Visa. The cryptocurrency landscape continues to evolve, and a significant milestone has recently been reached with Baanx's new partnership with Visa. This collaboration aims to launch stablecoin payment cards linked to self-custodial wallets, with an initial rollout in the United States utilizing Circle s USDC dollar-pegged token.These Visa cards represent a groundbreaking advancement, enablingWhen a card transaction is authorized, a smart contract is triggered to move the USDC balance from the user's wallet to Baanx in real-time, where it is then converted to fiat currency for payment.

Where is the Baanx-Visa stablecoin card available?

The card is initially launching in the United States.

What are the benefits of using a stablecoin card?

Benefits include enhanced control over your digital assets, increased security, seamless spending at millions of Visa merchants, real-time conversion of USDC to fiat, and the potential for low-cost cross-border payments.

Conclusion: A New Dawn for Crypto Payments

The partnership between Baanx and Visa to launch stablecoin cards for self-custodial wallets marks a pivotal moment in the evolution of cryptocurrency payments.By enabling users to seamlessly spend USDC directly from their self-custodial wallets, Baanx and Visa are empowering individuals with greater control, flexibility, and access to their finances. Baanx s stablecoin-linked Visa cards promise a global reach with low-cost cross border payments in the mix, according to the release. In many regions, access to stable currency is a luxury. We re giving people the ability to hold and spend USD-backed stablecoins seamlessly in a self-custodial, real-time way anywhere Visa is accepted.This innovative solution bridges the gap between traditional and decentralized finance, paving the way for a future where cryptocurrency is seamlessly integrated into our everyday lives.Key takeaways include:

• Empowerment: Users gain control over their crypto, removing reliance on third parties.
• Accessibility: Spending crypto becomes as easy as using a traditional debit card.
• Innovation: Smart contracts and real-time conversion facilitate seamless transactions.
• Adoption: This initiative drives the mainstream adoption of stablecoins and cryptocurrencies.
• Future: The partnership signals a shift towards a more integrated and decentralized financial system.

The launch of these cards is a powerful step towards a more inclusive and accessible financial future. Visa and Baanx have partnered to launch innovative payment cards that enable users to spend the USDC stablecoin directly from their self-custodial crypto wallets, marking a significant step forward in mainstream crypto payment adoption.Stay tuned for further developments as Baanx and Visa continue to innovate and expand the reach of their stablecoin card program.Consider exploring self-custodial wallet options and learn more about USDC to prepare yourself for this exciting new era of digital transactions. These innovative cards, linked to self-custodial wallets, will initially support Circle s USDC, a dollar-pegged stablecoin, enabling users to spend their digital assets directly from their crypto wallets, the companies announced on Wednesday. A New Era of Digital TransactionsAre you ready to take control of your crypto and experience the future of payments?