Visa Teams Up With WeFi for On-Chain Banking and Payment Services
Visa has partnered with WeFi, a blockchain-based stablecoin infrastructure firm co-founded by Reeve Collins, who also co-founded Tether. The partnership aims to develop on-chain banking and payment services that allow users to retain full custody of their digital assets. According to WeFi, the platform connects decentralized finance with regulated payment infrastructure, enabling cross-border spending and on-chain value storage.
The Visa partnership links this infrastructure to a global payment network, allowing users to spend stablecoin balances wherever Visa is accepted. Collins emphasized that the model is built around self-custody, with users retaining their private keys and direct access to funds at all times. Neither WeFi nor any third party holds user assets or controls how they are spent.
The rollout will proceed market by market, beginning with selected regions in Europe, Asia, and Latin America. Expansion beyond those markets will depend on local regulatory approvals and issuing partnerships. Collins noted that the partnership with Visa closes 'the last half mile of on-chain banking infrastructure.'