MidChains, a virtual asset trading platform and custodian based in ADGM in Abu Dhabi and licensed by the Financial Services Regulatory Authority ( FSRA) , recently announced that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with Visa. This in turn will streamline MidChains’ ability to harness the reach, capabilities, and security of VisaNet, the company’s global payment network. Through Fast Track, MidChains is preparing to launch a Visa payment credential connected to its platform, making it possible for MidChains users to convert and spend virtual assets at one of Visa’s 80 million plus merchant partners worldwide.
MidChains, a fully regulated virtual asset trading platform with sovereign wealth fund backing in the Middle East and North Africa (MENA) region, offers multiple state-of-the-art trading tools that make investing easier and much more efficient. The company offers competitive pricing on a wide range of virtual assets (also known as crypto) and, unlike many other trading platforms, does not charge any hidden fees or spreads. Its high-performance trading software and hardware are capable of executing trades in microseconds and offers a rebate program to its clients that is among the most attractive in the market today.
By joining Visa’s Fintech Fast Track Program, MidChains now has the ability to access Visa’s growing partner network as well as experts who can provide guidance in helping them get up and running in the most efficient way possible.
“MidChains is excited and proud to be part of Visa’s Fast Track program. Our Visa partnership is important as it bridges the gap with traditional finance and allows us to bring crypto to a much larger network of consumers. Following best practices, consumer protection and regulatory compliance while driving innovation are core values and features we share with Visa. MidChains is a fully licensed and regulated firm with sovereign backing and institutional background. Partnership is part of our DNA and this partnership will help accelerate our growth and move forward in our goal to expand the use of crypto as an alternative asset to store value and grow wealth,” said Basil Al Askari, Co-founder and CEO of MidChains.
Alex McCrea, VP, Head of Strategic Partnerships and Ventures for Central and Eastern Europe, Middle East and Africa, Visa, said: “By joining Visa’s Fintech Fast Track program, exciting crypto companies like MidChains gain unprecedented access to Visa experts, technology and resources. At Visa, we believe that crypto-linked card programs will benefit those looking to make everyday purchases with crypto a reality. We look forward to working with MidChains to bridge their crypto platform to Visa’s network, enabling secure and seamless transactions conducted in real time across Visa’s global network of 80 million merchant locations.”