#StablecoinPayments

🔥🚀Visa and Baanx Launch USDC Stablecoin Payment Cards

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 in real time, with Baanx converting the balance into fiat for payment, according to a press release on Wednesday.

Allowing people to manage their money on-chain with the help of major card networks like Visa and Mastercard is a fast growing segment within crypto. Baanx, a firm that specializes in crypto debit cards, is also working with Mastercard on a card linked to MetaMask wallets.

The stablecoin payment space is also heating up thanks to Circle recently announcing its own payment network focused initially on cross-border payments and remittances.

Baanx’s stablecoin-linked Visa cards promise a global reach with low-cost cross border payments in the mix, according to the release.