Cardholders will be able to make daily purchases at any establishment that accepts Visa, using their stablecoin balance. For example, when making a purchase, the customer pays with their Visa card enabled by Bridge, which automatically deducts the funds in stablecoin and converts them to the local currency, allowing payment in the traditional format.
Moreover, the cards can be added to compatible digital wallets, enabling transactions at more than 150 million establishments that accept Visa. The service begins in Latin America, with expansion planned for other regions.
Stablecoin cards arrive in Latin America via API integration
Developers adopting Bridge can integrate a single API to create Visa card issuance programs linked to stablecoins. Holders will have access to the resources through fintech apps, without the need for multiple integrations. In the background, Bridge acts as an intermediary in the movement and real-time conversion of stablecoins. The financial institution partner in the program is Lead Bank.
The decision to launch the service in Latin America takes into account the increase in stablecoin operations in the region. The product arrives at a time when alternatives for liquidity and hedges against currency fluctuations are being sought. In the coming months, companies are expected to expand their reach to countries in Europe, Africa, and Asia.
The announcement included statements from the heads of the companies.
We are focused on securely and seamlessly integrating stablecoins into Visa's existing network and products […] The partnership with Bridge represents a significant step towards making stablecoins usable in everyday life, providing consumers with more options for managing and spending their money, said Jack Forestell, Visa's Chief Product and Strategy Officer.
Zach Abrams, CEO and co-founder of Bridge also spoke about the initiative.
This is a major unlock for developers, who can now create truly scalable issuance products for their users […] Everyone already knows how to use cards for payments, and now they will be able to use stablecoins with just a tap on the card, he stated.
With the initiative, Visa and Bridge aim to integrate stablecoins into traditional payment flows, offering users and businesses a new way to access crypto assets without the need to deal directly with exchanges or manual conversion processes.
The article Visa and Bridge partner to popularize stablecoins was first seen on BeInCrypto Brazil.