Visa partners with WeFi to enable self-custody stablecoins

Visa has formed a partnership with WeFi, the on-chain banking firm founded by Reeve Collins, to enable stablecoin payments on Visa’s global payment network while letting users retain control of their private keys in self-custody wallets. The initial rollout will cover selected markets in Europe, Asia and Latin America.

Under the agreement, WeFi will link its on-chain banking infrastructure to Visa’s network to test how stablecoin-based payments perform in real-world commerce. The companies said they will expand to additional countries only after securing required regulatory approvals and establishing local commercial partnerships.

WeFi’s platform allows users to hold their own assets and keep private keys in self-custody wallets rather than storing funds on centralized exchanges or custodial services. Reeve Collins, WeFi’s co-founder and chairman, said the architecture is designed so users retain access to their funds while being able to make payments wherever Visa is accepted.

Maksym Sakharov, WeFi’s co-founder and chief executive, described stablecoins as integrated into the payment infrastructure rather than handled as a separate funding source. He said users would not need to manage conversions or interact with distinct systems because settlement would occur in the background.

Visa characterized the collaboration as an effort to integrate digital-asset payment models with existing payment experiences consumers already use. Mathieu Altwegg, Visa’s head of product and solutions in Europe, said the partnership demonstrates how Visa’s global network can interact with on-chain payment models.

Collins co-founded Tether and served as its CEO until 2015; Tether issues USDT, the largest stablecoin by market size. WeFi’s founders have contrasted holding crypto as long-term assets with using stablecoins for everyday transactions.

Visa has been developing multiple stablecoin-related products aimed at card issuance and payment processing. The Visa–WeFi initiative will proceed region by region, with broader launches contingent on local regulatory clearance and commercial agreements with banks, wallet providers and other partners that accept Visa payments.