Visa, Mesh Partner to Let Users Spend Crypto at 175M Merchants

Visa and crypto payments network Mesh have partnered to let consumers spend cryptocurrency and stablecoin balances from participating digital wallets at merchants across Visa’s global network.

Users will be able to pay in stores and online without first transferring their assets to a bank account or getting a separate crypto card. Merchants will receive payments through Visa’s existing network and will not need to change their checkout systems. A similar wallet-based model powers Oobit’s Visa-linked payments in Colombia.

Mesh will fund transactions and convert cryptocurrency and stablecoins into fiat currency when required. Participating wallet apps will issue Visa payment credentials, while Mesh will handle customer onboarding and know-your-customer requirements.

The companies have not announced which wallets or devices will support the service or when it will launch. Visa’s network spans more than 175 million merchant locations in over 200 countries and territories.

The partnership follows Mesh’s September integration with Bybit Pay, which allows users to spend funds held in their exchange accounts on supported platforms.

Mesh raised $75 million in a funding round led by Dragonfly in January. The investment valued the company at $1 billion.