July 18, 2024

Midchain joins forces with VISA Fintech Fast Track Module


MidChains, a virtual asset trading platform and custodian based in ADGM in Abu Dhabi and licensed by the Financial Services Regulatory Authority, recently announced that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa.

Midchain additionally stated that this in turn will be able to streamline the Midchain’s capacity to harness the reach, capabilities, and security of VisaNet, the firm’s global payment network.

Via the Fast Track, MidChains claimed that it is preparing to unveil a Visa payment credential connected to its platform, making it possible for MidChains clients to convert and spend virtual assets at one of Visa’s 80 million-plus merchant partners globally.

MidChains, which is a fully regulated virtual asset trading platform with sovereign wealth fund backing in the Middle East and North Africa (MENA) region, offers multiple state-of-the-art trading tools that make investing easier and much more efficient.

The firm offers competitive pricing on a wide range of virtual assets (also known as crypto) and, unlike many other trading platforms, does not charge any hidden fees or spreads. Its high-performance trading software and hardware are capable of executing trades in microseconds and offer a rebate program to its clients that are among the most lucrative in the market currently.

Midchain added further that by joining Visa’s Fintech Fast Track Program, the firm has now got the ability to access Visa’s growing partner network as well as experts who can offer adequate guidance in aiding them to get up and running in the most efficient way possible.

Basil Al Askari, Co-founder, and CEO of MidChains

Basil Al Askari, Cofounder, and CEO of MidChains stated: “MidChains is excited and proud to be part of Visa’s Fast Track program. Our Visa partnership is important as it bridges the gap with traditional finance and allows us to bring crypto to a much larger network of consumers. Following best practices, consumer protection, and regulatory compliance while driving innovation is core values and features we share with Visa.”

Basil added: “MidChains is a fully licensed and regulated firm with sovereign backing and institutional background. The partnership is part of our DNA and this partnership will help accelerate our growth and move forward in our goal to expand the use of crypto as an alternative asset to store value and grow wealth.”

Alex McCrea-Head of CEMEA Digital Partnership and Ventures at VISA

Alex McCrea, VP, Head of Strategic Partnerships and Ventures for Central and Eastern Europe, the Middle East, and Africa, Visa, said: “By joining Visa’s Fintech Fast Track program, exciting crypto companies like MidChains gain unprecedented access to Visa experts, technology and resources.”

Alex further explained “At Visa, we believe that crypto-linked card programs will benefit those looking to make everyday purchases with crypto a reality. We look forward to working with MidChains to bridge their crypto platform to Visa’s network, enabling secure and seamless transactions conducted in real-time across Visa’s global network of 80 million merchant locations.”




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