Visa teams up with WeFi to roll out on-chain payments and banking services

Visa said on April 28 that it has entered a partnership with stablecoin infrastructure provider WeFi, aiming to close the "last mile" gap in bringing secure on-chain payments and banking services to end users. WeFi was co-founded by Reeve Collins, a former co-founder of Tether. The company positions its platform as a coordination layer linking decentralized finance (DeFi) with regulated payment rails, targeting applications including cross-border consumer spending and on-chain value storage. In an interview, Collins said WeFi is upgrading its core infrastructure and plans to offer users bank-account-like services, including individual IBAN numbers. He added that the firm is pursuing the required operating licenses across multiple jurisdictions. Collins said the platform expects to expand partnerships with banks and financial institutions as it scales, with a focus on serving underserved populations globally. The rollout will be phased by region, starting in selected markets across Europe, Asia and Latin America. Further expansion will hinge on local regulatory approvals and issuer partnerships.