Visa will launch a card for ultra-high-net-worth (UHNW) individuals, allowing them to quickly and securely convert digital assets into fiat currency.
Payment giant Visa is partnering with dtcpay, a Singapore-based payment provider, to launch Visa Infinite, a crypto card for wealthy individuals. This new instrument will enable users to convert digital assets into fiat.
The Visa Infinite card will offer instant conversion of stablecoins and other cryptocurrencies into fiat, speeding up access to assets. The initiative aims to meet the growing demand for crypto payment services among affluent customers. The card will leverage dtcpay as a provider of real-time, multi-currency exchange services.
Registration for the Visa Infinite cards will open in Q4 2024.
According to Adeline Kim, Visa’s Country Manager for Singapore and Brunei, the partnership with dtcpay will integrate digital and traditional payment systems, significantly empowering local consumers and businesses. She also emphasized that the Asia-Pacific region holds tremendous potential in the implementation of digital financial solutions, and Visa will continue to expand the list of services available to local crypto users.
Research shows that more than 90% of Singapore’s HNWIs are interested in crypto-assets, with Gen X leading the interest in the region.
