Cryptocurrency wallet company Tangem has announced the launch of Tangem Pay, a virtual Visa card that is directly integrated with its hardware wallet. This innovative payment solution allows users to spend stablecoins at millions of merchants around the world, facilitating seamless transactions in a growing digital economy.
In partnership with US payment infrastructure firm Paera, Tangem’s Pay card will enable users to deposit and spend USDC, a popular stablecoin issued by Circle, specifically on the Polygon network. According to Tangem Pay CEO Marcos Nunes, once users deposit funds into their Tangem Pay accounts, they can make purchases wherever Visa is accepted, independent of local currencies. The service will also support Apple Pay and Google Pay, allowing for instant Visa payments.
The rollout of Tangem Pay cards is set to commence in late November, covering a broad spectrum of markets including the United States, Latin America, and key Asia-Pacific regions, with plans to extend to Europe by 2026. The initial launch will encompass 42 countries, among them Australia, Brazil, Japan, Hong Kong, Singapore, and the U.S. Nunes expressed that this virtual card is merely the start, with future plans to expand into more countries and create incentives that position the card as a preferred option for everyday spending.
Tangem positions the Pay card as a crucial element of its vision for a comprehensive self-custody crypto ecosystem, which includes functions for storage, growth, and spending of cryptocurrencies. The self-custodial nature of the wallet allows users to maintain direct ownership of their assets, circumventing many of the Know Your Customer (KYC) mandates imposed by custodial wallets. However, it is important to note that while the Tangem hardware wallet functions like a cold wallet, the associated Tangem Pay account must comply with KYC regulations. Despite the regulatory requirements, Tangem claims not to access user data, with KYC needed only for managing the pay card’s balance.
Rain, a provider of stablecoin payment infrastructure, oversees compliance and settlement for Tangem Pay. The company recently announced its plans to collaborate with Western Union on its forthcoming stablecoin-based settlement system. Western Union’s Digital Asset Network, which is based on Solana, will incorporate proprietary stablecoins and is projected to launch in the first half of 2026.
The functionality of Tangem Pay is influenced by the evolving landscape of global regulations regarding stablecoins, which have come under scrutiny for potential risks to financial stability and compliance with consumer protection and anti-money laundering rules. In the U.S., the GENIUS Act of 2025 proposes a federal definition for “payment stablecoins.” It establishes requirements for issuers to maintain full-reserve backing in liquid assets, publish monthly disclosures, and prohibits misleading marketing that suggests government support. This regulatory framework aims to clarify the legal position of federally regulated stablecoins, ensuring both issuers and users benefit from regulatory predictability.
Globally, there is increased regulatory oversight, with the EU’s MiCA framework and the UK’s emerging regulations providing specific rules governing stablecoin operations. Regulatory bodies, including the Financial Stability Board (FSB) and the Financial Action Task Force (FATF), emphasize transparency, operational resilience, and cross-border coordination, which are critical for Tangem Pay as it navigates diverse regulations across its 42 target markets.
