Visa partners with WeFi to enable direct payments with self-custodied stablecoins

CryptoWorld News: Visa partners with WeFi to let users pay directly with stablecoins from self-custody wallets, bypassing exchanges and reducing banks’ role in foreign exchange. The partnership is intended to enable stablecoin balances in self-custody wallets to be spent anytime on the Visa network, without first transferring funds through centralized exchanges or bank accounts. WeFi describes itself as “de-banking” and an “on-chain bank,” connecting it directly to Visa so that stablecoin funds and fiat settlement are handled in the background, while the front end looks like normal card payments. Mathieu Altwegg, Head of Products and Solutions at Visa Europe, said the goal is to connect new forms of value with payment experiences people are familiar with, while complying with existing regulatory frameworks. The collaboration will be rolled out in specific markets in Europe, Asia, and Latin America. Visa emphasized that initially it will focus on regulated stablecoins that comply with existing licensing regimes. WeFi plans to provide personal IBANs, allowing users to use them like traditional bank accounts—while using stablecoins as the funding layer and Visa as the acceptance network.