Tangem applet receives certification from VISA; set to launch self-custodial payment solution News โธ Technology
Tangem applet receives certification from VISA; set to launch self-custodial payment solution
Tangem said it recorded a 738% growth in MAU'S since the product's release last year.
2 min read
Updated: Sep. 8, 2023 at 6:54 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Tangem applet receives certification from VISA, sets to launch self-custodial payment solution, according to a Sept. 8 press statement shared with CryptoSlate.
The Switzerland-based cryptocurrency company disclosed that its applet obtained VISA certification the previous year. This certification empowered users to utilize Tangem Pay, whichย will be launched next year.
Integrating VISA’s payment card chips with the Tangem applet allows the bank card to store a cryptocurrency wallet’s public and private keys securely.
In practical terms, when these cards are employed for payments, they can generate a VISA payment message. Simultaneously, an OTP (one-time password) is developed to sign a transaction on the blockchain.
The firm stated that this novel application would be launched next year and it would be “the first fully self-custodial payment solution integrated with a global payment network.”
Tangem eyes upgrade
Meanwhile, the company’s partnership is coming as part of efforts to completely redesign its application and add new features to improve user experience.
Tangem unveiled a range of new features, including token sorting, a dark theme, and providing users with the option of concealing their available balances. Additionally, the company has announced enhancements to its brand style guide, a refreshed logo, and redesigned cards and packaging.
To bolster its firmware security, Tangem plans to introduce a firmware audit feature, allowing users to verify the integrity of their firmware. They are also gearing up to launch a new product page on Sept. 10, complete with 24/7 customer support.
Furthermore, Tangem confirmed that its cards will be distributed to more than 140 countries via warehouses in Europe, the USA, and Hong Kong from Oct. 10.
Tangem has emerged as a top challenger in the hardware wallet sector, rivaling more storied rivals like Trezor and Ledger. The company said it recorded a 738% growth in monthly active users since last year’s recent product release and believes its planned upgrade would help attract more customers globally.
Update on Sept 8, 18:16: The article clarified the company’s relationship.
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Posted In: Technology, Wallets
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Visa
Visa is an American multinational financial services corporation headquartered in Foster City, California, United States.