Overview
World Network, part of the biometric identification initiative Worldcoin, is currently discussing with Visa the potential integration of its services to facilitate on-chain card functionalities linked to self-custodied crypto wallets. This partnership aims to bring Visa capabilities to World Network wallets, offering various fintech solutions, fiat conversions, and stablecoin transactions across thousands of merchants worldwide.
Highlights
- Tools for Humanity, the organization behind Worldcoin, has issued requests for product forms to card issuers, as reported by CoinDesk.
- Recently, World Network launched a World Chat app enabling peer-to-peer crypto transactions.
Collaboration Goals
The goal of the collaboration is to provide a comprehensive wallet strategy that supports trading in various assets from FX to cryptocurrencies, allowing users to load funds into wallets and spend using a card. According to insiders, this initiative could transform World Wallet into a digital bank account.
Background
Tools for Humanity, co-founded by Sam Altman, is also in discussions with crypto card service providers like Rain, which supports on-chain Visa cards for various blockchain projects.
Future Implications
Given Sam Altman’s influence, other wallet providers may need to rethink their strategies in light of this emerging competition. Previous controversies surrounding Worldcoin’s biometric data collection efforts continue to shape its public perception.
Additional News
Visa and Mastercard have been exploring collaborations with crypto projects and wallet services to align their extensive networks with the evolving digital asset landscape.
Disclaimer: Tools for Humanity and Rain have not provided official comments regarding these developments.
