Description
Weld is a payment service allowing easily connect fiat cards to leading crypto exchanges and popular wallets allowing to make purchases online or via a POS terminal at any retail point worldwide. It?s the first crypto card provider which has signed agreements with banks and regulators in the CIS region.
Regional affairs
Ukraine and Russia and Estonia are leading in the world cryptocurrency adoption rankings in terms of the user number and their involvement. However, the cryptocurrency cards market has yet to be opened here. Weld founders have experience in building successful businesses here, as well as communication with local banks and a ?blue ocean? for fair competition. Thus this region was chosen for the pilot project of the cryptocurrency card.
Architecture
The innovative Weld architecture assumes that while the paying via Google Pay / Apple Pay, the bank transfers the fiat transaction to an overdraft (interest-free loan), and Weld instantly transfers the amount needed for the purchase in cryptocurrency from the user's balance to its corporate account on the same exchange. It doesn?t require a preliminary top-up of the card and also allowing to avoid high blockchain fees due to free intra-exchange transfers.
Investment
50 large companies, as well as venture funds from 23 countries, became investors of Weld Money. These are, in particular, Concorde Capital, AVALON WEALTH CLUB, FAIRUM, Maximus Capital, Magnus Capital, AU21 Capital, AscendEX, HSVC, 7 O'clock Capital, and some others.
