Visa and Mesh Partner for Crypto Payments

Visa and the payment network Mesh have announced a partnership to enable the use of cryptocurrencies and stablecoins directly at retail locations. The integration connects digital wallets to Visa's global infrastructure without the need for specific cards or prior bank transfers.

The system allows consumers to make payments at physical and online stores. Merchants will receive funds in fiat currency through the Visa network. The process requires no changes to the checkout systems currently used by retailers.

Mesh will be responsible for converting digital assets and funding the transactions. The company will also manage customer identification processes and compliance requirements known as KYC. Details regarding participating wallets and launch dates will be released according to the implementation schedule.

This initiative reaches a network spanning more than 175 million locations in about 200 countries. Mesh achieved a market valuation of 1 billion dollars after an investment round led by Dragonfly earlier this year.

Greater ease of use for digital assets in traditional retail tends to increase cryptocurrency liquidity and reduce friction in using Bitcoin as a global medium of exchange.