Visa and Transak partner up to enable legal currency withdrawal of virtual currency in 145 countries outside of Japan

Available from Metamask etc.

Cryptocurrency payment provider Transak has joined payment giant Visa’s direct remittance program “Visa Direct”, allowing users who have completed KYC to withdraw fiat currency using cryptocurrencies.

Specifically, the flow is to sell the virtual currency you hold from your Metamask or Coinbase wallet through Transak, convert it into cash, and transfer it to your Visa account. Visa Direct says it can process transactions within 30 minutes.

Transak supports more than 40 virtual currency stocks, and this fiat currency remittance service can be used in 145 countries in currencies such as US dollars and euros. On the other hand, it seems that it is not supported in Japan due to regulations.

Transak has long offered the ability to purchase cryptocurrencies through Metamask and other platforms by connecting it to Visa cards.

Yanilsa Gonzalez-Ore, Head of North America, Visa Direct & Global Ecosystem Readiness, said of the partnership in a statement shared with CoinDesk: “By enabling real-time card withdrawals through Visa Direct, Transak It’s faster, simpler, and makes it easier to convert your crypto balances to fiat currency at over 130 million merchants where Visa is accepted.”

connection: Web3 wallet “Metamask” provides virtual currency cashing function, enhancing convenience

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