Tangem partners with Visa to launch self-custodial payment solution

Crypto hardware wallet company Tangem partnered with Visa to allow its users to use their self-custodial devices to make payments directly at over 95 million Visa terminals globally, according to a Sept. 8 press statement shared with CryptoSlate.

The Switzerland-based cryptocurrency company disclosed that it obtained VISA certification the previous year. This certification empowered users to utilize their Tangem applet, Tangem Pay, for payments at establishments accepting VISA cards.

The integration of VISA’s payment card chips with the Tangem applet allows the bank card to store a cryptocurrency wallet’s public and private keys securely.

In practical terms, when these cards are employed for payments, they can generate a Visa payment message. Simultaneously, an OTP (one-time password) is developed to sign a transaction on the blockchain.

The firm stated that this novel application would be launched next year and it would be “the first fully self-custodial payment solution integrated with a global payment network.”

Tangem eyes upgrade

Meanwhile, the company’s partnership is coming as part of efforts to completely redesign its application and add new features to improve user experience.

Tangem unveiled a range of new features, including token sorting, a dark theme, and providing users with the option of concealing their available balances. Additionally, the company has announced enhancements to its brand style guide, a refreshed logo, and redesigned cards and packaging.

To bolster its firmware security, Tangem plans to introduce a firmware audit feature, allowing users to verify the integrity of their firmware. They are also gearing up to launch a new product page on Sept. 10, complete with 24/7 customer support.

Furthermore, Tangem confirmed that its cards will be distributed to more than 140 countries via warehouses in Europe, the USA, and Hong Kong from Oct. 10.

Tangem has emerged as a top challenger in the hardware wallet sector, rivaling more storied rivals like Trezor and Ledger. The company said it recorded a 738% growth in its monthly active users over the past months and believes its planned upgrade would help to attract more customers globally.

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