Users will now have access to an onchain spending account wherever Visa is accepted.
Gnosis Pay, one of the top decentralized payment rails that connects TradFi to DeFi, has unveiled a partnership with payments behemoth Visa.
The partnership brings to market a self-custodial Visa Debit Card linked to a Safe smart account.
In other words, crypto enthusiasts can now access an onchain spending account that allows them to pay at Visa-accepting merchants. This opens the door to purchases at more than 130 million locations in over 200 countries, according to Visa.
Visa hasn’t shied away from engaging with the cryptocurrency industry despite the potential for disruption coming from the new ecosystem. In December 2022, the firm revealed plans for automatic payments from self-custodial wallets and chose StarkNet for the implementation. Last year, the firm tapped Solana for merchant settlements in USDC.
Early adopters of the new Gnosis Pay card will enter a whitelist for an “OG NFT,” which brings exclusive rewards and IRL experiences. Early users will also get access to zero fees – including transaction fees, foreign exchange fees, and off-ramp fees.
Gnosis Pay’s Visa Card will be denominated in Euros and accessible only to residents of 32 European countries. The company said plans to expand to the U.S., Brazil, Mexico, Indonesia, and Mexico are underway.