Investing.com -- World Network, a blockchain ecosystem designed to enhance the functionality of the biometric identification system Worldcoin, is reportedly in discussions with credit card giant Visa (NYSE:V). The aim of these talks is to integrate on-chain card features into a self-custody cryptocurrency wallet, according to Coindesk, citing an insider.
The partnership’s goal is to introduce Visa card functionality to World Network wallets. This would allow for various fintech and foreign exchange applications, fiat on and off-ramps, and the ability to make stablecoin-based payments to thousands of merchants worldwide who are part of the Visa network.
Tools for Humanity, the company co-founded by Open AI CEO Sam Altman, which oversees Worldcoin and World Network, has sent out a request for a product form to card issuers. The company has also been in talks with crypto card facilitators such as Rain, a firm backed by Coinbase (NASDAQ:COIN) and Circle that offers on-chain Visa cards for projects like Optimism and Avalanche.
The insider described the plan as developing a comprehensive connected wallet strategy, the report noted. This strategy would allow users to trade in various things, from foreign exchange to cryptocurrencies, load to wallet, send to wallet, and spend from the card. Essentially, it would transform the World Wallet into a mini bank account for anyone who wants it.
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