Visa is partnering with blockchain company WeFi to build on-chain payment and banking infrastructure. WeFi was founded by Tether co-founder Reeve Collins and is a platform that connects decentralized finance (DeFi) with mainstream payment networks. This collaboration aims to complete the 'last half mile' (final segment) of on-chain banking. It plans to provide users with personal IBANs (International Bank Account Numbers) so they can use them like traditional bank accounts. The service will start in Europe, Asia, and South America, then expand to include financially underserved populations worldwide. Visa stated that it aims to demonstrate the combination of an on-chain model and a global network within a regulatory framework.
