Now make easy payments with the Weld Card that enables transactions directly from your crypto wallet

Weld Money, a Ukrainian fintech company, created and implemented a solution that eliminates all obstacles and problems of the intermediaries – the Weld Card. It's the first crypto card provider which has signed agreements with banks and regulators in the CIS region.

The Weld Card

Weld Card is the first cryptocurrency card that anyone will be able to use to make regular purchases of products and services directly from their cryptocurrency wallets using Google Pay and Apple Pay. This card enables users to connect to various cryptocurrency exchanges. Thus, it allows easy connection of crypto wallets and paying for any daily expenses using the usual contact of card and the POS terminal. In Eastern Europe, it is the first of its sort.

While paying via Google Pay or Apple Pay, the bank transfers the fiat transaction to an overdraft (interest-free loan), but the Weld card 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 allows for avoidance of high blockchain fees due to free intra-exchange transfers.

A Sneak Peek at Cryptocurrency Cards

The advent of blockchain technology has largely contributed to the evolution of the crypto market with more than 10,000 listed coins in the market. Until now, cryptocurrency holders have been using other exchanges' services to act as intermediaries between the buyer and the seller to get fiat currency. On that note, cryptocurrency cards can bridge the gap for consumers to facilitate faster transactions and wiser acceptance.

Cryptocurrencies continue to grow into mainstream adoption, and one of the ways this appears is via cryptocurrency cards. Like regular debit or credit cards, these allow you to spend money from an account by swiping your card (or entering the numbers from it). The big difference is that instead of this card linking to your bank account, it connects to one of your crypto wallets.

Growing Importance of Cryptocurrency Cards

Crypto cards offer several advantages for consumers over traditional card payment methods and open up new avenues to utilize cryptocurrencies for real-world goods and service purchases. Of course, anticipating an everyday payment procedure for cryptocurrencies with all the volatility and lack of oversight they engender, they also bring new regulatory concerns, and not every card is created equal. On that note, crypto cards offer much of the same benefits as cryptocurrencies themselves.

They are more anonymous than traditional credit/debit cards and pre-paid debit gift cards and enable transactions online. Where a merchant does not accept cryptocurrency, the user can execute the transaction by first converting to a fiat currency. This conversion takes place in real time by the exchange or wallet service, effectively bridging the gap between traditional finance and the cryptocurrency markets.

About Weld Money

Weld Money is a Ukrainian fintech startup founded in 2020 by Alexey Bobok, Iryna Lorens, and Alexey Meretskiy. The project launched its native token, WELD. The initial sale of WELD tokens was completed in a matter of minutes. IDO took place at four leading sites (ZENDIT, A2Dao, Hacken, and ANYPAD), lasted 4 minutes, and was allowed to attract US$3.6 million of investments. All this indicates an increasing interest in the product. The company is actively expanding its team, which will offer a completely new look at the financial market. It also plans another investment round allowing Weld to go far beyond the CIS region. Weld is the first company working with the CIS and in the future plans to expand to the USA, Asia & Africa, and other countries.