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. The plan is to provide users with personal IBANs (International Bank Account Numbers) so they can be used like traditional bank accounts. The service will start in Europe, Asia, and South America, and expand to include the financially underserved worldwide. Visa stated that it will demonstrate the combination of an on-chain model and a global network within a regulatory framework.
