TLDR
- Mercuryo has partnered with Visa to offer near real-time crypto-to-fiat conversions through Visa Direct.
- The integration enables users to off-ramp cryptocurrency and receive fiat funds on Visa debit and credit cards.
- This collaboration reduces settlement times and transaction costs compared to traditional methods.
- Visa Direct connects with Mercuryo’s network of non-custodial wallets, exchanges, and payment providers.
- Converted funds can be spent at over 150 million merchant locations globally that accept Visa.
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Mercuryo has partnered with Visa to integrate Visa Direct, enabling users to convert crypto holdings to fiat funds swiftly. This partnership aims to reduce settlement times and costs associated with traditional conversion methods. It allows users to access fiat directly on Visa debit and credit cards through the Visa Direct network.
Mercuryo Leverages Visa Direct for Faster Crypto-to-Fiat Conversions
Mercuryo has integrated Visa Direct into its platform, enabling users to convert their cryptocurrency holdings into fiat. The collaboration promises a seamless, near real-time off-ramping experience, with funds available on Visa cards in just minutes. This partnership will help Mercuryo’s users convert their digital assets efficiently, eliminating the need for external exchanges or third-party wallets.
The integration provides users with the ability to spend converted funds at over 150 million merchant locations worldwide.
According to Petr Kozyakov, Mercuryo’s co-founder and CEO, “This partnership with Visa will further enhance Mercuryo’s ability to deliver a fast, low-cost user experience.”
The system’s speed and convenience are expected to improve cross-border transactions, reducing the usual time lag associated with traditional off-ramping methods.
Visa’s role in the partnership goes beyond just the network infrastructure. With Visa Direct, the payments giant supports real-time transfers across various digital platforms, including brokerage and crypto accounts. Anastasia Serikova, head of Visa Direct in Europe, highlighted that the collaboration aims to bridge the gap between cryptocurrency platforms and traditional financial systems.
The Visa Direct network now links with Mercuryo’s non-custodial wallets and exchanges, providing users with direct access to off-ramping tools. The integration also allows for lower fees and faster transactions, particularly for international transfers. This enhancement offers a convenient solution for crypto users looking to convert their assets quickly into fiat currency.
Visa Expands Its Crypto Strategy Amid Growing Stablecoin Usage
Visa’s ongoing investments in the digital assets space reflect a broader push to support stablecoin payments. In December, Visa launched a Stablecoins Advisory Practice, assisting businesses in integrating stablecoins into their operations. With this, Visa continues to build upon its crypto infrastructure, enhancing its partnerships to handle stablecoin settlements efficiently.
This collaboration with Mercuryo strengthens Visa’s expanding role in the cryptocurrency industry. The company has already surpassed $200 million in stablecoin settlement volume and continues to explore new partnerships, such as with Aquanow, to improve stablecoin settlement speeds. However, Visa CEO Ryan McInerney has noted that clearer regulations are necessary for the full potential of digital assets to be realized.
