Global payments giant Visa has partnered with the decentralized onchain bank WeFi to enable crypto based payments while allowing users to maintain full custody of their digital assets.

 

The partnership will initially focus on exploring ways in which WeFi’s onchain banking infrastructure can be leveraged to scale stablecoin based payments in selected markets.

 

“As interest in digital assets grows, our focus is on making these new models practical at scale by connecting them to payment experiences people already trust,” Mathieu Altwegg, Visa’s Head of Product and Solutions in Europe, said. “This collaboration demonstrates how Visa’s global network interacts with onchain models.”

 

The partnership is significant as it represents a shift in custodial practices, where users often hand over their digital assets to cryptocurrency exchanges. Since WeFi offers self custody, users will be able to maintain full control of their assets while leveraging Visa’s global payment rails and using digital assets to make payments anywhere Visa is accepted.

 

The rollout will take place one region at a time, with Europe, Asia, and Latin America among the first beneficiaries, while expansion continues into additional markets depending on regulatory approvals and partnerships.

 

“People expect money to work seamlessly across borders without unnecessary complexity. We see this partnership as a way to work with Visa’s capabilities as we continue to develop WeFi’s debanking offering across key regions,” said Maksym Sakharov, WeFi co founder and CEO.

 

What is WeFi? 

WeFi is a blockchain based decentralized on chain bank (deobank) founded by Maksym Sakharov and Reeve Collins, a co founder of Tether.

 

Through its mobile first, simple interface, WeFi provides financial services to more than 1.4 billion unbanked people worldwide, allowing them to maintain full custody of their digital assets while facilitating crypto based payments and cross border transfers.

 

Since its launch last year, WeFi has grown significantly, serving more than 150,000 users across over 80 countries. To support crypto based payments, WeFi has partnered with industry players including LayerZero and has announced integrations with companies such as Binance and Visa.