Tangem Pay: A New Fintech Innovation
Tangem, a fintech firm headquartered in Switzerland, is set to unveil Tangem Pay in 2025. This innovative product is a Visa card equipped with a cold wallet chip, designed to facilitate cryptocurrency transactions without the need for intermediaries. The announcement was made by the Zug-based company during the Paris Blockchain Week, where they highlighted the unique features of their card, which securely stores private keys within a microchip.
Key Features of Tangem Pay
This unique design allows users to sign transactions directly through smart contracts while benefiting from Visa’s extensive payment ecosystem. According to Tangem, the card will be accepted by an impressive network of over 130 million merchants, in addition to integration with payment services like Apple Pay and Google Pay.
Unlike traditional custodial crypto cards, which involve third-party involvement and pre-loaded accounts, Tangem Pay ensures that the funds remain under the user’s control, with transactions processed via Visa’s infrastructure only upon user authorization.
Companion Application and Market Demand
The fintech company has also indicated that a companion mobile application will assist users in activating the card, managing backups, and monitoring balances. The launch of Tangem Pay comes amidst a growing interest in self-custody solutions, particularly following the failures of various centralized entities such as FTX. In its announcement, Tangem pointed to stablecoin transaction volumes that exceeded $27.6 trillion in 2024 as a significant factor driving this demand.
Industry Insights
Michael Batuev, Tangem’s Global VP of Product, emphasized that Tangem Pay eliminates the need for intermediaries, describing it as a “bank-in-your-pocket” solution.
By utilizing Visa’s infrastructure, the card promises to support real-time transactions and ATM withdrawals without necessitating any upgrades for merchants. “Tangem Pay is fundamentally different. With our technology, users retain complete control of their assets at all times,” he stated.
The card will compete in a cross-border payments market projected to exceed $300 billion by 2030. A waitlist has already been established, with public access anticipated by late 2025. Additionally, the company possesses a U.S. patent for the card’s chip technology, which has also received certification from Visa. Details regarding pricing and regional availability remain under wraps.
