Tangem Says Crypto Card Demand Outpaces Access Globally

AI summary of the source article

Swiss crypto wallet provider Tangem has introduced its first physical Visa card, enabling users to spend USDC on Polygon directly from self-custodial wallets. Limited to an initial run of 5,000 cards, the physical product expands on Tangem Pay, where Latin America and the United States account for over 40% and 30% of payment volume, respectively. Although cumulative crypto card deposits have surpassed $10 billion globally, card availability remains uneven. Tangem cannot deliver physical cards to approximately 20 countries due to sanctions, local banking infrastructure, KYC rules, and card-issuing compliance requirements.

Why it matters

While consumer demand for crypto-linked payment cards is expanding globally, cross-border issuance remains heavily bottlenecked by local banking infrastructure and regulatory compliance.

Key facts

• Tangem launched its first physical Visa card with an initial batch limited to 5,000 cards.
• Over 40% of Tangem Pay payments originate in Latin America, while more than 30% come from the United States.
• Regulatory, KYC, and banking constraints prevent Tangem from shipping physical cards to approximately 20 countries, including China and Russia.