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Future of Fintech
Credit cards can bridge Web2 to Web3
As blockchain continues to become more mainstream, DeFi is playing a gradually important role. In this space, traditional financial tools can serve as a bridge from Web2 to Web3 for those who still remain skeptical.
 
Web3 has blossom development. Recently, Mask temporarily changed the Twitter logo to Doge coin, and this week, the Institute of Web3 Hong Kong has been established, demonstrated HK's determination to build a Web3 center in the Asia-specific region. All of this proved that the Web 3 space is not just a phenomenon but rather the future of digital interactions.
 
Both investors and institutions are seeking ways to bridge the gap between these two iterations of the web. One of the existing Web2 financial tools, the credit card is believed that can actually be bridges to usher new users into Web3.
 
Unlike traditional companies, Web3 teams such as DAOs work through smart contract tooling and often have flat organizational structures. Token Terminal data show that the total value locked in DAOs increased from around $50 million in early 2020 to more than $5 billion in early 2022.
 
While Web 3 projects hold much of their wealth in tokens sitting in treasuries, they still exist in a world built on traditional financial rails. This means that they may still have typical business expenses such as travel bills, web hosting or supplies purchases that require fiat, no matter if they happen to be a five-person DAO or a multibillion-dollar protocol.
 
Currently, we can still see a lot of people working at decentralized companies using their personal credit cards for business expenses. Obviously, it is just a messy way to start to build a company. Meanwhile, opening up an account on a centralized exchange such as Coinbase or FTX can take months. Needless to say, traditional banks often don't want to work with web3 startups, leading to funding freezes.
 
Credits card is a digital tool that Web2 users are familiar with, and via innovation, it can also be used in the Web3 space. It can create a bridge between these two versions of digital reality.
 
iPeakoin provides an innovative product, Quantum Virtual Card for Web2 and Web3 entrepreneurs. The cards work by connecting to an individual or multi-sig wallet that holds USDC. When a user spends with the card, iPeakoin handles the swap from USDC stablecoins to fiat with the merchant accepting the transaction on Visa rails.
 
While smart wallets are already operating and going to be mature, credit cards can efficiently on-ramp users onto Web3. This enables a “clean way” to perform blockchain transactions without the users needing prior blockchain knowledge.
 
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For more information, please visit https:Card-as-a-Service | iPeakoin