Visa, a payment service provider, has partnered with Singapore’s dtcpay to broaden its crypto payments network and further boost crypto adoption.
As part of the partnership, the global payment provider will incorporate dtcpay’s digital payment services into its global payment network, which spans 200 countries and more than 130 million merchants.
This development significantly increases crypto adoption as it gains traction in the payments sector.
The initial component of the deal involves the introduction of the ‘dctpay Visa Infinite’ card, which enables users to conduct these crypto payments.
Users can convert their digital assets, including stablecoins, to fiat currencies. Customers will be able to replenish their cards with these fiat currencies.
Another partnership component is implementing global payment solutions for ultra-high-net-worth (UHNW) individuals, enterprises, and consumers.
Adeline Kim, Visa’s Singapore Manager, stated that the partnership with dtcpay is a testament to their dedication to fostering innovation in the payments industry.
In addition, she noted that integrating her organization’s global presence with dtcpay’s Web3 proficiency will enable businesses and consumers to conduct digital transactions efficiently.
Alice Liu, CEO and Co-Founder of dtcpay, also emphasized the importance of this partnership in advancing their mission to bridge the divide between digital payments and traditional finance by facilitating the use and acceptance of digital assets by mainstream financial systems.
Partnerships for Digital Assets Payments
This new partnership with dtcpay is the latest in a series of crypto-related partnerships that the payment service provider has secured this year.
In June, the payment service provider partnered with Tangem, a Swiss-based manufacturer of crypto hardware wallets. This partnership allows Tangem users to utilize the digital assets in their wallets to make payments with their cards.
In addition, the payment provider collaborated with Gnosis Pay in May to introduce a digital asset-linked debit card for European consumers.
The Web3 application Wirex has also partnered with the global payment service provider to encourage the utilization of digital currencies. As a result, these partnerships will continue to stimulate cryptocurrency adoption as additional crypto payment platforms acquire access to Visa’s network.
