Visa teams up with Tether co-founder to build on-chain bank

Techub News, according to CoinDesk, Visa is partnering with stablecoin infrastructure company WeFi, founded by Tether co-founder Reeve Collins, to build on-chain payment and banking services. The platform plans to roll out regionally, with initial launches in parts of Europe, Asia, and Latin America, aiming to provide services to the unbanked population through stablecoin infrastructure.

WeFi positions itself as a coordination layer between decentralized finance and regulated payment infrastructure, supporting scenarios such as cross-border spending and on-chain value storage. Collins stated that the partnership completes the "last mile" of on-chain banking infrastructure, and the platform will expand to more markets after obtaining regulatory approvals and card issuance partnerships in various regions.