Swiss fintech company Tangem has unveiled Tangem Pay, a Visa debit card embedded with a cold wallet chip that allows users to spend cryptocurrency directly from self-custody, bypassing any intermediaries. Announced at Paris Blockchain Week, the card stores private keys on a secure microchip compliant with Visa standards. Users activate, back up, and monitor balances through a mobile app, while transactions are processed in real time over Visa's global payment network.
How It Works
Unlike custodial crypto cards that require pre-funded accounts or third-party access, Tangem Pay keeps funds under the user's control until authorization. To make a payment, the user signs the transaction via the mobile app; the signed instruction is then relayed through a smart contract to Visa's infrastructure. The cold wallet chip never exposes the private key online, significantly reducing attack vectors. Tangem's Global VP of Product, Michael Batuev, stated: “Tangem Pay is fundamentally different. Users retain complete control of their assets at all times. We're not just building another card — we're building a solution that truly puts ownership back into the hands of the cardholder.”
Compatibility and Market Context
Tangem Pay works with Apple Pay and Google Pay and is accepted at over 130 million merchants worldwide, including ATM withdrawals. The company cited $27.6 trillion in stablecoin transaction volume in 2024 as a catalyst, and projects the cross-border payment market to exceed $300 billion by 2030. The launch comes amid rising demand for self-custody solutions following the collapses of centralized platforms like FTX.
Availability and Competition
A waitlist is now open, with public availability expected in late 2025. Tangem holds a U.S. patent for the chip technology, which has been certified by Visa. Pricing and regional details remain undisclosed. Tangem, previously known for hardware wallets, now enters the payment card space, competing with custodial offerings such as Binance Card and Crypto.com Visa. Analysts believe a truly self-custodial payment card is still a blue ocean, and Tangem's success will depend on user experience and regulatory compliance.