Tangem Launches First Physical Visa Card with Initial Issuance of 5,000 Units

Tangem has announced the launch of its first physical Visa card, which supports both offline and online purchases as well as ATM withdrawals, with an initial issuance of 5,000 cards. Users can top up the card from their self-custody wallets and transfer funds back to the wallet when the card is paused or closed. The card offers cashback settled in USDC stablecoin issued by Circle, with Basic users receiving 1% and Plus users receiving 2% on eligible purchases. Tangem plans to showcase the first batch of Tangem Pay cards at the Token2049 event in Singapore. Tangem stated that over 40% of Tangem Pay's payments come from Latin America, with more than 30% from the United States, and the supply of physical cards remains limited in some markets. Andrey Ilinskiy, head of Tangem Pay, pointed out that the alignment of demand, regulation, banking infrastructure, and issuance requirements does not always coincide. Currently, Tangem is unable to ship physical Tangem Pay cards to about 20 countries, including China, Russia, North Korea, and Palestine, with limiting factors including KYC requirements, sanctions, local banking rules, and issuance compliance.

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