Transak and Visa form partnership to launch cryptocurrency to fiat currency exchange service in 145 countries/regions

Cryptocurrency and NFT payments infrastructure provider Transak said it has entered into a partnership with Visa, a collaboration that aims to enable users in 145 countries/territories to exchange their cryptocurrency holdings for local fiat currencies using the Visa Direct platform, and to be able to spend them at the more than 130 million merchant outlets that Visa provides services to. Visa Direct's exchange service is said to be completed in nearly 30 minutes or less, a significant improvement over traditional banking that typically takes days.