BlockBeats report, on April 28, Visa announced it is partnering with the blockchain-based stablecoin infrastructure company WeFi to help bridge the "last mile" in delivering secure on-chain payments and banking services to users. WeFi was co-founded by Reeve Collins, former co-founder of Tether. WeFi describes its platform as a "coordination layer between decentralized finance (DeFi) and regulated payment infrastructure, designed to support use cases such as cross-border consumer spending and on-chain value storage."
In an interview, Collins said: “We are upgrading our underlying infrastructure and essentially providing people with bank accounts, as they will soon have their own IBAN numbers, and we are obtaining the necessary operating licenses worldwide.” Collins noted that as the platform scales, it plans to partner with more banks and institutions, with a focus on serving populations globally that lack access to banking services. The rollout will occur in phases by region, initially launching in select markets across Europe, Asia, and Latin America. Expansion into other markets will depend on local regulatory approvals and partnerships with issuers.