Tangem has launched its first physical Visa card designed for online and in-store payments, as well as ATM withdrawals. The initial release is limited to 5 000 cards. Users can manage funds directly from their self-custodial wallets, allowing for direct funding and the ability to move assets back if the card is closed.
The company reports that over 40% of its payment volume originates from Latin America, while more than 30% comes from the United States. Despite this, physical card availability remains limited in approximately 20 countries, including Russia, China, North Korea, and Palestine, due to regulatory and banking infrastructure constraints.
Andrey Ilinskiy, head of Tangem Pay, noted that the availability of crypto cards is determined by the intersection of demand, local regulations, and card-issuing requirements. These factors often do not align, creating barriers to entry in specific markets even where interest in crypto-linked financial tools is high.
Tangem is also introducing a cashback program denominated in Circle’s USDC stablecoin. Eligible purchases will earn 1% cashback for Basic users and 2% for Plus users. The company plans to present the new physical cards at the upcoming Token2049 event in Singapore.
