Tangem AG collaborates with Visa to unveil a self-custodial payment card integrated with a hardware wallet for crypto payments, while Aptos introduces Aptos Connect, a keyless wallet using ZK-proofs and social logins for blockchain accounts.
Tangem AG and Visa Launch Self-Custodial Crypto Payment Card
Zurich, Switzerland, July 05, 2024 – Tangem AG, a global leader in secure hardware wallet solutions, has entered into a partnership with Visa, a prominent figure in digital payments. This collaboration aims to introduce an innovative self-custodial payment solution for hardware wallets.
This new development features a Visa payment card integrated with a hardware wallet, enabling users to make payments utilizing their crypto or stablecoin balances at any Visa-accepting merchant. Initially, this technology will be available via the Tangem Visa card across Europe. Furthermore, Tangem plans to extend this technology to other interested issuers.
This self-custodial solution allows users to maintain exclusive control over their assets by embedding a private key within the card chip, necessitating the physical card for transactions.
Cuy Sheffield, Vice President and Head of Crypto at Visa, emphasized the importance of security in evolving the crypto ecosystem through this partnership. Andrey Kurennykh, co-founder and CEO of Tangem, highlighted the convenience and security of this two-in-one solution that merges traditional banking with digital asset management.
Aptos Introduces Keyless Crypto Wallet, Aptos Connect
Aptos has unveiled Aptos Connect, a groundbreaking, keyless wallet leveraging zero-knowledge proofs (ZK-proofs) to verify user identities. This wallet allows users to create and manage Aptos blockchain accounts with a single click using their Google login credentials.
Aptos Connect utilizes the OpenID Connect (OIDC) standard combined with ZK-proofs to seamlessly link social logins to blockchain accounts while maintaining user privacy. The wallet’s design eliminates the need for private keys, seed phrases, hardware security modules, or multiparty computation networks.
Developed as part of Aptos Improvement Protocol 61 (AIP-61), the platform supports Google logins, with Apple ID integration expected soon.
This web-based application offers cross-platform compatibility, enabling users to explore Web3 without prior digital assets or immediate dApp connections. However, security hinges on the user’s Google account, making two-factor authentication advisable.
Aptos Connect joins other efforts like Magic Labs’ “Magic Links,” Web3 Auth, and Coinbase’s Smart Wallet in simplifying crypto access through social logins.
