Gnosis Allows Crypto Users to Make Everyday Purchases in Wallets with Visa

Gnosis, an Ethereum sidechain, has announced that two new products could allow consumers to pay for online purchases using stablecoins or Visa’s payment system.

Gnosis on Monday released Gnosis Pay, a decentralized payment network integrated with a traditional payment processor. It is also the first Visa-certified consumer debit card directly connected to a self-custodial chain wallet.

The Gnosis Card uses the Visa payment system and is a debit card directly linked to the user’s account in the chain and built on top of Gnosis Pay, a decentralized payment network. The Gnosis Card is connected to Safe Wallets, which are the users’ wallets.

Gnosis Pay is also a second layer of the Gnosis chain and allows for faster and cheaper transactions.

Stefan George, co-founder of Gnosis Pay and chief technology officer at Gnosis, told AskFX, “From a user experience perspective, it’s the same as what everyone is used to, but under the hood, you’re using crypto to process payments.” .”

George was on a ski trip in the French Alps when he exchanged ideas with a SaltPay executive. George explained blockchain technology and how it can be used in everyday life.

“The idea was that we could work together and bridge the gap between what we do and what they do.” George told AskFX that it was the only way to increase crypto adoption . “We must build bridges to the old world.” .”

Secure wallets are used in the latest products from Gnosis.

George explained that the relationship was symbiotic. Safe supports Gnosis Pay by developing smart contracts. We now use these contracts for every card shipped.