Tether Co-Founder Teams Up With Visa to Pioneer Blockchain Banking Revolution

TLDR

• Visa has formed an alliance with WeFi, a stablecoin infrastructure provider, to create blockchain-based banking solutions
• Reeve Collins, a co-founder of WeFi, was instrumental in establishing Tether, the leading stablecoin issuer
• This collaboration seeks to bridge the final gap in blockchain banking infrastructure
• Customers will receive traditional banking features like IBAN accounts via Visa’s worldwide payment system
• Initial deployment targets Europe, Asia, and Latin America, pending regulatory clearance

Visa has revealed a strategic alliance with WeFi, a blockchain payments infrastructure provider, designed to bring onchain banking and payment capabilities to users worldwide.

Reeve Collins, a key figure in WeFi’s founding team, previously played a pivotal role at [[LINK_START_0]]Tether[[LINK_END_0]], the organization responsible for issuing the world’s most widely used stablecoin. WeFi positions itself as an intermediary layer linking decentralized financial ecosystems with traditional regulated payment networks.

According to both organizations, this agreement addresses what they call the “last half mile” challenge in blockchain banking—essentially bridging the divide between cryptocurrency-based financial services and the conventional banking infrastructure that businesses and individuals depend on daily.

Collins explained that the system will provide users with comprehensive banking capabilities, including International Bank Account Numbers (IBANs). These identifiers enable cross-border financial transactions through established banking channels.

WeFi is actively pursuing financial operating licenses across various jurisdictions to ensure compliance with local regulatory requirements. According to Collins, securing these authorizations represents a critical component of their expansion strategy.

How the Rollout Will Work

The collaboration will unfold through a phased geographical approach. Initial deployment will focus on designated countries throughout Europe, Asia, and Latin America.

Further territorial expansion hinges on obtaining necessary regulatory permissions and establishing relationships with regional banking institutions. Collins indicated that the organization intends to continuously onboard additional banking collaborators.

The primary demographic includes underbanked populations—individuals lacking consistent access to conventional financial services. Collins emphasized that the platform aims to serve these communities by providing stablecoin-powered payment solutions and blockchain-based value preservation.

Mathieu Altwegg, Visa’s Head of Product and Solutions in Europe, noted that this collaboration demonstrates how Visa’s extensive network can integrate with blockchain financial systems while maintaining compliance with existing regulatory frameworks.

What WeFi’s Platform Does

WeFi characterizes its technology as an orchestration infrastructure—a framework that integrates DeFi applications with regulated payment systems.

The system supports international transactions and enables value storage directly on blockchain platforms. This functionality allows users to maintain and utilize digital assets in ways compatible with traditional financial ecosystems.

Visa’s international presence provides WeFi with connectivity to a payment infrastructure serving consumers and businesses across over 200 nations. The partnership layers regulatory-compliant infrastructure onto WeFi’s blockchain-native services.

Collins stated that the objective is delivering complete banking account functionality without necessitating access to conventional financial institutions. WeFi plans to distribute IBANs as the platform expands.

Neither company revealed the financial arrangements underlying their partnership. The announcement was published on April 28, 2026.

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