New York, United States, 11th January, 2023, Chainwire
Reap, the global fintech company powering expense management through the industry first Reap Visa Corporate Card (“Reap Card”) platform, launches industry-leading innovation by including cryptocurrency repayments functionality for the Web3 industry. Together with the Reap Card, Reap is offering expense management software that will enable web3 companies to settle their fiat payments with cryptocurrencies.
Daren Guo, Reap Co-Founder, said: “We noticed a gap in the payments market involving web3 projects that face challenges for settling corporate expenses with non-fiat currencies like cryptocurrency. A seamless and scalable solution to convert crypto into fiat currently does not exist as traditional banks have not been able to settle on an industry standard for these web3 businesses. Reap is now able to bridge the gap between web3 businesses and the web2 fiat economy.”
Security and stability are at the forefront of customers’ minds who leverage Web3 technologies. To build out a trusted ecosystem, Reap has integrated with Fireblocks, an easy-to-use platform to create new blockchain-based products and manage day-to-day digital asset operations.
Stephen Richardson, SVP of Financial Markets at Fireblocks, added: “The security of digital assets is of paramount importance when it comes to building customer trust, which is why we are delighted to be working with Reap to power secure, frictionless payments for web3 creators. Reap’s solution stands to improve operational efficiency for web3 projects, allowing founders and project owners to focus on building innovative products with greater peace of mind. We’re proud to work with innovative companies like Reap that will enable the next generation of digital assets.”
The Reap Card simplifies the process of settling global payments in fiat by using USDC, USDT, BTC, and ETH seamlessly to resolve the problem of costly handling fees that include multiple off-ramp parties. Digital provider Gnosis has already used this service to see firsthand how the…