Ledger Сhallenger Tangem Sees 738% MAUs Growth; Sets to Integrate VISA Payments
Tangem, a hardware wallet company based in Zug, Switzerland, has announced a full-scale product upgrade and rebranding in order to strengthen its position in the hardware wallet market. Tangem received VISA certification for its payment solution, which integrates the payment card’s chip with Tangem’s applet, allowing users to make payments directly with their crypto at all 95M Visa terminals worldwide.
Tangem, the hardware wallet provider, has experienced remarkable growth in recent months, with a 738% increase in monthly active users since the release of its product last year. In a bid to capture a portion of the hardware wallet market dominated by Ledger Wallet and Trezor, Tangem is undergoing a comprehensive rebranding effort.
During a recent X AMA session, Tangem’s team unveiled a series of new features and upgrades planned for the rebranding initiative. The redesign will encompass the Tangem app, brand style guide, logo, cards, and packaging. Additionally, user experience enhancements include token sorting and grouping functions, a dark theme option, balance concealment, and a transaction history feature.
One significant upgrade involves a firmware audit, allowing users to verify the authenticity of their card’s firmware. This unalterable firmware ensures that user data remains secure. Tangem is also introducing 24/7 multilingual human support, an address book for easy transactions, and a new product page on its website, set to launch on September 10.
Tangem has announced global shipping to over 140 countries from its warehouses in Europe, the USA, and Hong Kong, commencing on October 10.
This surge in new features and rebranding efforts follows Tangem’s explosive growth in user adoption. The company’s hardware wallet witnessed a 738% monthly increase in active users, reflecting its potential to drive widespread crypto adoption and enhance fund security.
In a significant collaboration, Tangem partnered with VISA to introduce a groundbreaking payment solution. Tangem Pay, the company’s Tangem applet, allows users to make payments at over 95 million VISA-accepted merchant stores worldwide. The payment card combines a cryptocurrency wallet with VISA’s global payment network, enabling users to generate Visa payment messages and blockchain transactions with a one-time password (OTP).
Tangem’s payment solution distinguishes itself by being the only hardware cold storage wallet to integrate payments within the device. This non-custodial wallet ensures users have full control over their private keys and funds, with no third-party involvement.
Tangem’s Visa-certified hardware wallet opens the door to direct payments at all 95 million Visa terminals worldwide. It represents the first fully self-custodial payment solution linked to a global payment network. The process involves crypto funds being deducted directly from the user’s hardware wallet, and real-time transaction authorization through a public smart contract, ensuring full transparency and eliminating intermediaries.
The Tangem app is scheduled for launch on October 5th, following a third-party firmware audit by a Swiss company. Tangem Pay is slated for release in the upcoming year.
For more information about these upgrades and the rebranding initiative, please visit Tangem’s official website.
About Tangem
Tangem Wallet is a card-shaped cold wallet that gives you complete control over your private keys. The Swiss-based company was founded in 2017 with the goal of increasing digital asset adoption through a novel combination of a smartcard-based hardware wallet and mobile applications.
In 2021, the company released its bank card-shaped hardware wallet, introducing a novel concept of a seedless self-custodial multi-currency wallet. Users can store, buy, earn, transfer, and swap over 6,000 cryptocurrencies and digital assets using the wallet.
Tangem has produced over 850,000 hardware wallets since its inception, and none have been hacked. Tangem wallet is currently available in over 140 countries and will be expanded to new jurisdictions in the future.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
