Transak, a Web3 Payments Infrastructure provider, has joined Visa Direct to make it easier for users to convert their cryptocurrency into regular currency.

Transak offers payment and onboarding solutions that allow users to purchase and sell crypto assets. It also handles the Know-Your-Customer (KYC), risk monitoring, and compliance requirements on behalf of clients such as MetaMask, and Coinbase Wallet. Web3 startup has raised $20 million in a Series-A round last year to fund global expansion. Visa Direct allows third-party service providers to connect directly to Visa’s system and route payments directly onto Visa card.

Yanilsa Gonzalez Ore, North America Head of Visa Direct Global Ecosystem Readiness and Visa Direct, shared a statement with CoinDesk. She said that the real-time withdrawals via Visa Direct will provide a faster, easier and more connected experience to its users. This will make it easier for them to convert their crypto balances into Fiat which can then be used at more than 130,000,000 merchant locations accepting Visa.

Visa Direct allows users to process transactions in under 30 minutes. This means that they can convert their cryptocurrency into fiat almost in real-time.

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Sheldon Reback is the editor.